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Over the first quarter of 2023, there were fluctuations in the Wheat Prices in North America, and the first month of the quarter saw a fall in prices. Because of the lack of demand and easy access to supplies in the domestic market, Wheat prices have been continuously declining. A decrease in prices is seen in the second month of Q1 as a result of favorable weather in the Northern Hemisphere. The oil and gas industries need for shale gas was also sufficient. In the final month of the quarter, there were enough inventories, and the weather returned to normal, which helped the forecast for output. This has exacerbated the price drop of Wheat in North America. Towards the end of Q1 2023, the price of Wheat was recorded to be USD 340/MT for FOB Chicago (USA) in March 2023.

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