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Internationally Wheat Price Is Consolidating Below Levels

Internationally: Wheat Price  were at the $7.9 per bushel mark in early September, consolidating below levels prior to Russia’s invasion of Ukraine.

As strong exports from top suppliers eased previous concerns of shortages. With the resumption of exports through Black Sea ports, Ukraine expects to sell over 20 million tonnes of grain.

Reported to have accumulated in port silos since its invasion started on February 24, while aiming to clear stockpile space for the coming harvest.

Further,  Internationally Wheat Price top exporter Russia expects to ship 4 million tonnes of wheat in September.

Accelerating from the 3.5 million tonnes in August as its record-setting harvest is sale to the international market.

Favorable harvest prospects in North America also contributed to eased prices in the start of the month.

Expectations of robust supply through the coming harvesting season contributed to the 1.4% month-on-month drop in the FAO’s cereal price index.

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