The price of wheat rose sharply in late February in response to the invasion of Ukraine by Russian troops. At that time, it went from around 265 euros to just under 400 euros per ton in a few days, and after a short decline, it crossed the 450 euros per ton mark in mid-May.
–
Today, the representatives of Russia and Ukraine signed the agreement, which will allow the export of Ukrainian grain, mediated by the UN and Turkey. It is supposed to allow millions of tons of grain to be exported from Ukraine’s Black Sea ports, which are now blocked by Russia’s attack on the neighboring country.
–
The ceremony in Istanbul was also attended by UN Secretary-General António Guterres and Turkish President Recep Tayyip Erdogan.
–
On the Chicago Stock Exchange, wheat is sold for approximately USD 7.7 per bushel (27.2 kg), which translates to approximately CZK 6,800 per ton. It thus showed a drop of almost five percent for the day. Weaker demand and the assumption of a good harvest in North America contribute to the lower price.
–
Ukraine is a key country for growing cereals, but the Russian invasion complicates the harvest and especially the export of these commodities. According to Western media, Russian troops are blocking important export ports in the Black Sea, destroying important port and transport infrastructure, liquidating grain silos and illegally appropriating Ukrainian agricultural products. Moscow has previously claimed that Kyiv must first clear the coast to allow ships to pass through the area safely.
—
