🌾 Russia first in wheat exports for second straight year

Second consecutive strong wheat harvest strengthens Russia’s position as No. 1 exporter while easing price pressure on markets.

Overflowing Russian grain ports have brought wheat consumers affected by the cost-of-living crisis a positive result: the lowest prices in almost three years.

Prices in the Chicago market are now less than half of the peak reached after the Ukrainian conflict began.

“There are not a lot of competitors for Russian wheat,” said Hélène Duflot, a grain-market analyst at Strategie Grains. “Russia is the price maker at the moment.”

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