Mexico.- The sanctions of Western countries imposed on Russia for the invasion of Ukraine, puts at risk the global supply of grains until the end of the war, for which the prices are about to reach the maximum of the last 14 years. Consider that Russia and Ukraine account for 29% of world wheat exports.
The Confederation of Agricultural Associations of Sinaloa (Caades) announced that in this scenario, at the close of operations on the Chicago Grain Exchange corresponding to Monday, corn futures for July 2022 gained 2.4 dollars to settle at 286.31 dollars , which represents an estimated producer income of $6,941.93 per ton of corn. While September corn futures rose 5 dollars to settle at 265.44 dollars.
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On the other hand, wheat futures to July 2022 gained 28.4 dollars to settle at 460.22 dollars, which represents an estimated producer income of $10,252.60 per ton of bread wheat. While September wheat futures rose 28.8 dollars to settle at 419.43 dollars.
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