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Wheat Prices Head For Longest Streak Of Quarterly Losses In 14 Years
(MENAFN- Jordan News Agency)
Amman, September 29 (Petra) -- The price of wheat is heading towards recording its worst series of quarterly losses in 14 years, as the abundant harvest in parts of the Northern Hemisphere compensated for the shortfall resulting from the ongoing tensions in the Black Sea after the termination of the grain agreement.
According to Bloomberg on Friday, futures contracts on the Chicago Stock Exchange fell by 11 per cent over the past three months and are preparing for the fourth quarterly decline.
Although Russia ended the Safe Corridor Agreement for Grains last July, which allowed Ukraine to export its shipments, abundant supplies led to price restrictions, and Russia was one of the countries that reaped an abundant harvest.
Amman, September 29 (Petra) -- The price of wheat is heading towards recording its worst series of quarterly losses in 14 years, as the abundant harvest in parts of the Northern Hemisphere compensated for the shortfall resulting from the ongoing tensions in the Black Sea after the termination of the grain agreement.
According to Bloomberg on Friday, futures contracts on the Chicago Stock Exchange fell by 11 per cent over the past three months and are preparing for the fourth quarterly decline.
Although Russia ended the Safe Corridor Agreement for Grains last July, which allowed Ukraine to export its shipments, abundant supplies led to price restrictions, and Russia was one of the countries that reaped an abundant harvest.
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