The situation on the wheat market may become critical for the consumer, due to Russia's withdrawal from the grain deal. That will probably entail a speculative increase in the price of grain. At the start of full-scale hostilities in Ukraine, we saw the price of quotations for wheat almost double in a very short period. After that, the situation stabilized a bit. But realizing that due to the impossibility of logistics of wheat from Ukraine, the situation could create hunger in the world. Because Ukraine is a very large supplier of grain, on which many countries depend. The states, with the participation of Erdogan, were able to reach a consensus and conclude a grain deal. But because of the shelling of the Russian fleet last week, the Russian Federation announced that it was withdrawing from this agreement. Now there are almost 300 ships at sea loaded with Ukrainian wheat and blocked by Russian troops. Not being able to supply grain to the consumer will create a shortage in the market and the price will automatically start to rise. Immediately after the announcement of Russia, the price increased by 8%!
@TradingForProfitPro, but as you can see th market retourn to the 800 and if it,s break , bellow 700. Do you see diferent?
TradingForProfitPro
⋅
@corbella, Under conditions of global shortage of wheat. Which appeared because of the war with Ukraine, which is one of the largest suppliers. Grain prices cannot fall, especially in winter!