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China is closed, high wheat prices will not happen

07.08.2024
China is closed, high wheat prices will not happen

According to the Bureau of National Statistics, wheat has been sown more than expected. This confirms predictions of a high harvest, and low prices, reports World of NAN.

Also according to the Ministry of Agriculture, trade with China has stopped for an unknown period. China has unilaterally changed import rules. It will take time and efforts of traders to resume trade.

This circumstance strengthened the trading position of Central Asian buyers, which they did not fail to take advantage of: wheat contracts at the export crossing fell in price by $20 per week.

In terms of domestic prices, soft wheat with gluten 23 and above should be traded at no more than 80 tg/kg. So far there have been no deals at such prices.


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