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Wheat Futures Sink to 2-Month Lows

Commodity pressured by sluggish demand on the export front

Winter wheat1

U.S. wheat futures fell to their lowest in more than two months on Monday, pressured by sluggish demand on the export front, traders said.

According to a report at Reuters, soybean futures were higher, supported by gains in the crude oil market as well as strong demand from China. Recent sales to China also lent support to corn futures but the downturn in wheat capped the gains.

“U.S. wheat prices remain in a bearish trend; the export business is still gloomy,” French consultancy Agritel told Reuters.

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