Milling Wheat in Paris Jumps as U.S. Says Production Will Fall
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Milling wheat for November delivery jumped after the U.S. Department of Agriculture said the winter crop would be smaller than last year after dry weather curbed production of the grain.
Farmers will harvest 1.45 billion bushels of winter wheat this year, up from 1.424 billion forecast in May and less than 1.485 billion produced last year, the USDA said today in a report. Fifteen analysts surveyed by Bloomberg News expected output of 1.391 billion, on average. Dry weather in France, the world’s second-biggest shipper, also may curb output.