Corn remains the world’s most produced grain, heavily concentrated in the U.S., China, Brazil, and Argentina.
This downturn extended to soybeans and corn, as ongoing U.S. harvest pressures compounded uncertainties surrounding potential U.S.-China trade resolutions.
The fall was driven mainly by weakening international wheat and maize quotations.
The MWM, launched in June to track the most competitive Black Sea export prices, has largely followed Russian 12.5% protein wheat levels.
According to the USDA, Brazil will remain the undisputed leader with approximately 40% of global supply.