RIO DE JANEIRO, BRAZIL – The war in Ukraine causes concern for the global wheat crop. According to Safras & Mercado analyst Elcio Bento, a reduction in the worldwide harvest was already expected, a scenario that may worsen with the conflicts.
“The doubt remains as to the size of the next harvest. With the military operation, will we have a harvest in Ukraine? There is also the need to analyze the embargoes and know if Russia will put the wheat on the market,” highlights Bento.
The conflict in Eastern Europe caused a substantial increase in international wheat prices, especially last week. The analyst recalls that the price will return to the levels observed before the military operation if the war ends.
Meanwhile, given the high prices, the expectation is for record production in Brazil.
“The producer is excited to invest in the crop. From the moment a big player leaves the market. The prices skyrocketed in Argentina and Brazil. Thus, the trend is to increase the area, with a record harvest next season.”
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