Wheat prices have hit a nine-month low. On May 12, July futures on the Chicago Mercantile Exchange (CBOT) fell 1.34% to $5.15 per bushel (about $189.23 per ton, one bushel of wheat is about 27.2 kg, a ton is 36.74 bushels).
Compared to the February maximum of this year, reached on February 18 ($6.22 per bushel), wheat prices have fallen by more than 17%.
Bloomberg notes that the harvest in some key producing countries was favorably affected by rainy weather. According to the average estimate of analysts in a Bloomberg survey, global wheat stocks in the United States in the 2025-2026 season will amount to 261.4 million tons. This will be higher than the 261 million tons expected by the end of the current season.
However, the agency notes that stocks at this level remain close to their lowest level in the last ten years. This, the agency notes, makes the market vulnerable to any weather shocks before the harvest.
Բաժանորդագրվեք մեր ալիքին Telegram-ում
