The average value of the FAO Cereal Price Index was 125 points, which is 1% lower than the September indicator and 17.9% lower than the corresponding indicator last year. This was reported to the FAO .
“In October, world wheat prices fell by 1.9% due to a generally higher-than-expected US supply, as well as a sharp increase in competition among exporters,” the report said.
World prices for fodder grains, on the contrary, slightly increased compared to last month. Therefore, the decrease in supply in Argentina became one of the factors in the increase in world prices for corn, but this was hindered by the seasonal increase in supply in the USA, where the harvesting campaign continued, as well as sharp export competition from Brazil.
© Yulia Makovey , Kurkul.com, 2023.