17:26 - 17.06.2026

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June 17, Fineko/abc.az. From June 10 to June 17, world wheat prices continued to decline due to the approaching mass arrival of a new crop on the market. Additional pressure is exerted by the expectation of the possible opening of the Strait of Hormuz within the agreements between the U.S. and Iran.

ABC.AZ reports that analysts note a decrease in export prices for new crops in Russia, while in France and Germany there was an increase due to concerns about impact of heat on crops.

The U.S. Department of Agriculture also raised the forecast for the wheat harvest in Russia to 88 million tons, while maintaining the export forecast at 47 million tons. At the same time, import estimates from a number of countries have been revised, including a decrease for Turkey and an increase for Egypt.

Additional pressure on the market is exerted by improved crop conditions in the United States and accelerated harvesting of winter wheat.