Reuters: US Wheat, Dry Winter, Soggy Spring

1) From Reuters some news for those of us trading in $WEAT…

May 31, 2022
5:26 AM UTC
Last Updated 3 hours ago

Reuters headline: U.S. wheat crop hit by dry winter then soggy spring, adding to global tightness

The United States is the world’s fourth-largest wheat exporter and problems are hitting output at a time when the world can ill afford to lose any more supplies of the staple grain amid a global food crisis.

Benchmark Chicago Board of Trade wheat prices surged 50% to more than $13.60 a bushel after Russia’s invasion in February halted shipments of nearly a third of the world’s wheat exports, and little has gone right for wheat since then.

Worsening harvest prospects in China and parts of Europe, followed by an export ban by major producer India, have tightened stocks and exacerbated global food supply concerns

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