Wheat Falls to Lowest in 9 Months as Key Harvests Draw Nearer
Wheat futures dropped to their lowest since July 2024 as upcoming Northern Hemisphere harvests and favorable rains in key regions signal strong supply. The expected midyear influx is driving prices down, with agriculture economist Dennis Voznesenski noting that improved crop conditions among major exporters are adding near-term pressure to global wheat markets.
Wheat futures fell to their lowest since July 2024 as harvests draw closer in the Northern Hemisphere, with rains benefiting crops in some key growers.
Many of the world’s top shippers will begin bringing in crops around midyear. That is putting pressure on prices, with the influx set to bolster supplies in the near-term, Dennis Voznesenski, an agriculture economist at Common wealth Bank of Australia, said by phone.
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Source : Bloomberg
