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Iran and Ukraine boost wheat prices
Global wheat prices have risen due to the repercussions of the war in Ukraine and Iran, as well as poor weather conditions in key production regions. Last week, grain prices increased by 4.1% on the Chicago Board of Trade, marking a total rise of 19% in July, reaching their highest levels in three years. The increase is attributed to a surge in attacks on grain export ports, Russia's shipping restrictions, and rising temperatures in Europe and the United States, which have led to decreased wheat production in France, Germany, and North Dakota. Additionally, the U.S. Department of Agriculture announced that U.S. wheat production for 2026/27 will fall to its lowest level in over 55 years, at approximately 41.81 million tons, with global stocks expected to decline to 272.8 million tons.
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