Around the Black Sea, wheat prices had to fall further on the spot markets. Analysts at Refinitiv Agriculture report that the ton is currently trading at $320.00. Last week the price was still at 330 US dollars. In addition to the political tensions between the Russians and Ukraine, the weather is currently causing problems with shipments in the ports around the Black Sea. This has recently led to Russian exports totaling only 1.6 million tons and thus falling well short of expectations. Meanwhile, in Russia, the first fields are being worked again. Due to the high global fertilizer prices, the local Ministry of Agriculture imposed an export ban on ammonium nitrate, which is used in the manufacture of many fertilizers.
