Outside of Russia, there are no large wheat stocks in the world and it is currently selling the grain quite aggressively.
This was stated by Dan Bass, the president and owner of the Chicago-based analytical company AgResource, during the BLACK SEA GRAIN. EUROPE-2024, Latifundist.com reported.
“The world does not have large stocks of wheat outside of Russia. And although it is sold aggressively, if there is a weather problem in Russia or in the Black Sea market, the global wheat market will certainly react with price increases,” he said.
Assessing the world’s major wheat exporters and grain stocks, the agency agrees with the USDA and predicts a reduction in world stocks in 24-25 years. Currently, wheat stocks are historically low.
The expert noted that Russia remains an “aggressive seller of wheat at reduced prices”.
