External wheat prices fall with agreement between Russia and Ukraine

International wheat prices have come under significant pressure in recent days, due to the agreement to ship Ukrainian grains, in addition to the higher estimate for the Russian harvest.

The agreement between Russia and Ukraine will allow the export of 22 million tons of Ukrainian grains and other agricultural products, which has not been verified since the beginning of the conflict – Ukraine is an important exporter of corn and wheat.

Brazilian market

According to Cepea researchers, internal wheat negotiations continue to occur on an ad hoc basis, a scenario that should remain until the arrival of the cereal from the crop that is being sown, when there is an expectation of a more significant price reduction.