World wheat prices

World wheat prices continued to decline for the third consecutive month in August. The European Union (France, grade 1) export prices fell by 4 percent month on month, reflecting greater seasonal availability from the ongoing harvest and increased availability from Ukraine with the re-opening of three Black Sea ports. Argentina’s (Up River, f.o.b.) and Australia’s (Eastern States, ASW) quotations also declined by 4 and 7 percent, respectively, in August.

Meanwhile, the benchmark United States of America’s (US No. 2, Hard Red Winter) quotes remained stable after two consecutive months of steep declines. Nonetheless, international wheat prices remained well above their values a year earlier.