Market reaction to the Russia / Ukraine situation continues to drive prices. US CBOT wheat futures market is up circa 40% week on week.
Argentina have announced plans for domestic price controls on wheat to control food price inflation through a pricing mechanism. This is due to remain in place until 2024. Arg currently restricts annual wheat exports to 14.5 million tonnes from the 21/22 harvest, of which 13.6 million tonnes is already shipped.