$ 25 reduction in wheat prices in world markets

According to Fars News Agency’s International Economics Group, today in world markets, the prices of various commodities fell to an unprecedented price, so that wheat fell in price by more than $ 25 and corn, which is used as animal feed, dropped by $ 11. Experienced.

Nasdaq wrote: Today, Monday, the price of wheat fell by 3% to the lowest level of the last two weeks, mainly due to the forecast of suitable rainfall in wheat-rich countries, including the United States.

Meanwhile, the price of wheat in Russia has fallen due to the depreciation of the ruble against the dollar. Rising tensions between Russia and Ukraine have led to a devaluation of the ruble.

The reduction in world wheat prices has provided a good opportunity for countries importing this strategic product to spend less currency by buying on time.

Iran has imported more than 7.5 million tons of wheat from other countries this year, while in previous years it was self-sufficient in the production of this product. The drought of the past two years, as well as the poor management of guaranteed purchase rates, have led to a decline in production.

Earlier, the UN Food and Agriculture Organization warned that rising tensions between Russia and Ukraine, two major grain producers, would put a lot of pressure on the market for these products, including wheat.

*Reducing feed feed prices in world markets

The price of animal feed also decreased today, and at the moment of the news, the price of corn, which is used as animal feed, was $ 11.25 lower than the previous day.

Animal feed accounts for 70% of the cost of protein products.

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