Wheat Has Biggest Monthly Drop Since 2011 on U.S. Oulook

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Jhon Kumar
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Wheat Has Biggest Monthly Drop Since 2011 on U.S. Oulook

Post by Jhon Kumar » Sat May 31, 2014 12:39 am

Wheat futures fell, capping the biggest monthly drop since 2011, and corn declined to a 12-week low on signs that crop conditions improved in the U.S., the world’s top grain exporter. As of May 25, 30 percent of the winter-wheat crop was in good or excellent condition, up from 29 percent a week earlier, according to the the U.S. Department of Agriculture. Areas of Texas, Oklahoma and central Kansas, where crops had suffered from drought, got an inch (2.5 centimeters) of rain in the past week, government data show. Accelerated planting in Canada and Ukraine supports the USDA’s forecast for world reserves to rise to a three-year high.

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