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Wheat prices hit 3.5-year high as Black Sea shipping crisis deepens

Price pressures expected to persist until Southern Hemisphere harvest

2 Sep 23 · 3d ago · 1 post · 1 source · development 2 of 2

Competition for cargoes is poised to intensify until the end of the year, when the Southern Hemisphere harvest kicks in. Most global importers have been holding off making alternative purchases, hoping for a Russia-Ukraine grain agreement, but local supplies are running thin.

Price pressures expected to persist until Southern Hemisphere harvest
japantimes.co.jp

“The Black Sea is an important region for shipping grains, and if buyers are not able to get grain out of this region, they have to look elsewhere for supplies, which is going to drive prices up further.”

Ole Hansen, head of commodity strategy at Saxo Bank

Ishan Bhanu Agricultural analyst at KplerOle Hansen Head of commodity strategy at Saxo BankIndonesian millers Major wheat importers

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1Russian and Ukrainian wheat exports…2Price pressures expected to persist until…
Sep 23Sep 24yesterdaynow · 9:47 AM ET

What was reported 1 claim about this development

  1. 3 outlets Analysis-Wheat buyers brace for higher costs as Russia-Ukraine war drags on

    first by Investing.com News, 3d ago · also Japan Times, Reuters

    1 more headline

What people said 1 voice · verbatim

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