Wheat prices fell on the Chicago Mercantile Exchange on Monday by more than 1%, affected by the decline in the prices of other grains such as soybeans and corn. This decline is due to growing concern about weak demand for exports, although the stability of crude oil prices contributed to limiting the severity of this decline.
By 04:45 GMT, the most traded wheat contract on the Chicago Mercantile Exchange (CBOT) fell by 1.3%, recording $5.90 and a half cent per bushel. The price of soybeans also decreased by 0.3%, reaching $11.60 per bushel, while the price of corn fell by 0.7%, reaching $4.49 per bushel.
One trader in Singapore commented: “There is a lack of purchasing desire from end consumers in light of the great uncertainty regarding the war and oil prices, and this is putting pressure on prices.”
