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North America
Wheat prices in North America fluctuated during the fourth quarter because of unfavorable weather and the cancellation of the US harvest. Wheat prices were steadily rising in the first quarter of 2014 due to excessive demand and a lack of supply in the domestic market. The cyclone bomb and blizzards damaged the crops, making the commodity more difficult to locate. Prices rose in the second month of Q4 due to unfavorable weather conditions in the Northern Hemisphere. The weather reverted to normal, and sufficient inventories in the quarter's final month improved the output prediction. This has further accentuated the disparity in wheat prices in North America. Towards the end of Q4 2022, the price of Wheat was recorded to be USD 529/MT for FOB Vancouver (Canada) in December 2022.

Asia Pacific
In the fourth quarter of 2022, Wheat prices in the Asia-Pacific region fluctuated because of worries about the state of the crops in several important exporting nations. Due to soaring demand, a supply-demand imbalance, and the war's negative effects on Ukraine's manufacturing prospects, the price increased in the first part of Q4. Additionally, India produces more than 25% of the world's food grains, and during the rabi season—which is affected by intense heat and drought—Wheat is grown, which was affected during the month of production. The price rose in the second month of the second half of Q4 as the Indian government-imposed export restrictions on wheat flour to lower record domestic costs. The price of Wheat was estimated to be USD 286.38/MT for Ex-Indore, India, in December 2022, near the end of Q4 2022.

The prices of Wheat fluctuated in Europe during the fourth quarter of 2022, supported by a price increase in the first month of the quarter due to an increase in demand. In order to continue a downturn globally, grain exports from Ukraine were resumed in the beginning half of Q4. This led to a supply of food and fertilizer. The price was consistently falling in line with the product's pricing because there were many inventories on the domestic market later in the second half of Q4. Due to modest growth in crop production and harvesting area, a low yield, and the impact of the conflict in the region, Wheat prices increased in the final month of the quarter on the European domestic market. Towards the end of Q4 2022, the price of Wheat was recorded to be USD 320/MT for FOB Novorossiysk Russia in December 2022.

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