London-Sana
Wheat prices rose during the trading week at the end of the week, resuming their highest levels in fourteen years, due to concern over the lack of harvest quantities in the United States and Canada.
At the end of trading, wheat futures contracts for July delivery rose by 0.3 percent to $11.08 per 60 pounds, after reaching $12.18, the highest level since 1998.
This rise comes in light of snow storms and floods in North America and Canada, which negatively affect crops, and India is also suffering from a severe heat wave that affects the wheat crop.
On the other hand, soybean futures contracts for July delivery fell by 1.2 percent to $ 16.22, and corn futures contracts fell upon settlement by 1.4 percent to $ 7.84.
It is noteworthy that global food prices began to rise since the beginning of 2021, as a result of the irresponsible policy pursued by Western central banks, which led to high inflation, which recently exacerbated with the imposition of unprecedented sanctions on Russia, including the European Union and the United States, which is one of the most prominent Producers of energy resources and exporters of food in the world.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency
