Farmers from Kansas to Kyiv are gearing up to collect abundant wheat crops in coming weeks, helping ease a global grain shortfall that’s fueled a surge in prices, reports Bloomberg | Quint.
Spring rains showered fields in the Black Sea region, U.S. Plains and European Union, bolstering prospects for the approaching winter-wheat harvest across major suppliers. Hefty harvests will aid in replenishing grain silos drained by surging Chinese demand and poor weather last year.
The outlook for refreshed supplies is contributing to a cool-down in prices after a rally across agricultural markets propelled a gauge of global food costs to near a decade high.
Read the full report here.