Sharp Rise in Prices of Corn, Wheat and Soybeans

The prices of products derived from these grains have gone up, with supply having been severely affected by the worst drought in the U.S. in the last 25 years.

Tuesday, July 24, 2012

An article in Nacion.com reports on the rapid changes that the international price of soybeans, corn and wheat have suffered in the last month:

"Corn went from $572.88 per metric ton, on 24 June, to $814.30 a ton at the close of yesterday on the U.S. stock market. That means an increase of 42%."

"Wheat was trading at $702.63 a ton on June 24 and yesterday closed at $915.50. In this case the increase in the last month was 30%."

"As for soybeans, the international price in the stock went from $1,453.75 a ton, June 24, to $1,696.62 a tonne at the close of yesterday. That's a 16.7% increase."

More on this topic

Nicaragua to Buy Wheat from Russia

February 2011

The country is negotiating with Russia the purchase of 100.000 tons of wheat to supply poultry farms.

With this initiative, the Ministry of Industry and Trade seeks to reach an agreement with the National Association of Poultry Producers (ANAP) for a reduction in the price of chicken meat.

Dont Overestimate Increases in Grain Prices

September 2012

The Inter-American Institute for Cooperation on Agriculture should not overreact to current price conditions, avoiding trade-distorting policies.

A statement from the Inter-American Institute for Cooperation on Agriculture (IICA) reads:

IICA: Rising prices of agricultural products is temporary

El Salvador will Receive 30,000 Tons of Wheat

February 2011

The U.S. grant represents an estimated $ 6.5 million and will be used to finance various projects.

The proceeds of the sale from the wheat under the "Food for Progress" program, will be used to fund projects to promote food export, agricultural diversification and improvement of laboratory facilities and infrastructure of the Ministry of Agriculture, indicates Laprensagrafica.com.

Russian Wheat Rejected as Poor Quality

August 2011

Nicaraguan businessmen refused to use a hundred thousand tons of fortified wheat that was donated by the Russian Government.

The donation from the Russian government aimed to lower the cost of bread, eggs and chicken.
With respect to this, Alfredo Velez, president of the National Association of Poultry Farmers (ANAP) argued, "Neither the baking industry nor the poultry industry will use it, because instead of lowering production costs, we urge would come."

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