The increase in tensions in Eastern Europe caused an accelerated rise in the prices of agricultural commodities in the international market. Corn and wheat, two cereals that are of great importance in the region, rose the most.
Russia’s recognition of the two breakaway republics in Ukraine has led to a rise in all agricultural commodities destined for food. Cotton fell.
This pressure on prices occurs because, in addition to the region’s importance for the supply of grain to the international market, possible sanctions on Russia, by the United States and European countries, will interfere in world trade.
Wheat was the most sensitive, registering a rise of 5.9% on the Chicago Stock Exchange this Tuesday (22), compared to Friday’s trading (18). The March contract was trading at USD 8.44 (R$ 42.71) a bushel (27.2 kg) at the end of the session.
The Russians produce 76 million tons of the cereal and export 33 million. World wheat production is 776 million tons per crop, and 109 million tons come from the two countries. Together, they are responsible for 29% of the 208 million tons that cross borders in the world.
Corn was up 3.1%, ending the day at $6.75 a bushel (25.4 kg). As in the case of wheat, which has Russia as the world leader in exports, maize from this region is also of great importance for the world market.
Ukraine produces 42 million tons and exports 36.5 million. A good part of this product goes to China (8.5 million) and the European Union (7.5 million).
Together, Ukraine and Russia, the latter with less importance, account for 19.5% of the corn traded in the world.
The conflict in Eastern Europe is important for Brazil, as Russia is a major supplier of fertilizers to the country. Last year, of the 41.6 million tons of fertilizer imported, 9.3 million came from Russia.
In addition, Brazil also depends on potash from Belarus, another country that suffers sanctions from the great powers. With the worsening of the situation in Eastern Europe, Brazil would not only have difficulties in supplying, but would also suffer the consequences of the international rise in prices.
Soybean prices, already affected by the drought in South America, followed the pace of other commodities. The oilseed rose to US$ 16.35 (R$ 82.74) a bushel (27.2 kg), 2.1% more than in the previous trading session.
Agricultural commodities traded in New York, such as coffee, sugar and cotton, also felt the effects of rising tensions. With the exception of cotton, all had highs.
Oil traded in the United States, due to the importance of Russians in this market, was US$ 92.3 (R$ 467) per barrel, up 1.3%.
The rise in foreign prices had little impact on the domestic market, due to the fall in the dollar against the real. The bag of soybeans maintained, on Tuesday, the prices of Friday, being negotiated at R$ 192 in Cascavel (PR).
Corn had a small appreciation, rising from R$ 95, on Friday, to R$ 96 this Tuesday, according to prices from AgRural. This Monday was a holiday in the United States, a market that provides the basis for international negotiations.
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