Wheat prices plunged amid expectations of bigger harvests in Russia

Wheat prices plunged amid expectations of bigger harvests in Russia

The most active type of wheat on the Chicago Stock Exchange It fell 3.6 percent to $304.70 a ton.

Russian agricultural consultancy IKAR raised its forecast for the wheat harvest in Russia 2022 by 2 million tons, noting that the world’s largest wheat exporter will have 47.5 million tons available for shipment in the 2022/2023 campaign.

Stocks and oil fell, while the dollar rose ahead of central bank meetings in the United States and other countries this week, which could increase borrowing costs globally.

The continued export of Ukrainian grain to world markets also affected prices.

About 165 ships loaded with 3.7 million tons of agricultural products left Ukraine through a secure shipping channel. Another ship chartered by the United Nations World Food Program has left Ukraine with about 30,000 tons of wheat on board, bound for Ethiopia.

How much were soybeans and corn prices shown, on Monday, September 19

Soybean prices rose 0.9 percent to $537.02, while corn prices rose 0.1 percent to $266.92.

Oilseeds rose thanks to American exporters sold 136 thousand tons of oilseeds to China, As stated by the Ministry of Agriculture.

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