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Wheat Edges Up on Bumper Harvest Expectations

Wheat falls for third consecutive session to lowest in 8 months

Wheat wheat field cereals

Chicago wheat futures edged up Thursday after hitting their lowest in more than eight months as a bumper harvest in the Northern Hemisphere weighed, reports Reuters.

Soybeans edged higher, as did corn, although gains were curbed by forecasts of crop-friendly weather across the U.S. Midwest.

  • Ukrainian government has raised its grain crop forecast for this year to 68 million tonnes from 65-68 million tonnes
  • Russia’s grain exports will not be subjected to any quotas from July to December
  • U.S. Midwest weather forecasts for rain and easing temperatures in the week ahead
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