World wheat futures dropped again this week, extending their 2023 losing streak. US Chicago Board of Trade (CBOT) figures dropped to their lowest since December 2020 and London old crop futures struck a new contract low which was almost half the peak price it achieved during May last year.
Russian wheat exports remain the primary negative price driver, dominating world trade with an estimated five million tonnes shipped during April alone, taking the season’s total above 37 million tonnes. Analysts see over 44 million tonnes likely to be shipped by the end of the season on 30th June.
During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo
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