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World wheat prices rise while corn falls - FAO

10.05.2020

In April, the average value of the Grain Price Index amounted to almost 164 points, slightly decreasing compared to March, while it is still almost 4 points (2.4%) higher than in April 2019.

This was reported in the report of The Food and Agriculture Organization.

As for the main crops, in April a significant increase in international wheat prices was recorded, which occurred against the background of a sharp decline in corn quotes, as a result of which the value of the Grain Price Index did not change compared to the previous month.

Thus, the average price of wheat increased by 2.5% compared to the previous month, which is due to both strong international demand and information on the rapid exhaustion of export quotas introduced by Russia at the end of March, which is expected to continue until the end of the current season. until June 30th.

At the same time, analysts say, international corn prices continued to decline for the third month in a row, as a result of which the feed grain price index fell by 10% compared to last month.

“The presence of significant export reserves against the backdrop of the arrival of grain in the new crop in South America and sluggish demand from producers of feed and ethanol fuel continued to have a downward effect on corn prices,” experts said.

Recall that the rainfall in the countries of the Black Sea region slightly reduced the stress associated with concerns about the future wheat crop.

Information from the site latifundist.com