Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Wheat Futures Post Longest Slump in Four Months

Wheat futures fell, capping the longest slump in four months, on signs of increasing global supplies. Corn and soybeans dropped.

World wheat inventories will rise 0.5 percent to 187.4 million metric tons next year from 2014, the U.S. Department of Agriculture said on May 9. Futures in Chicago dropped 3.3 percent in four sessions, the longest slump since Jan. 10.

U.S. “prices are higher than most of our global competitors,” Brian Grete, the editor of the Professional Farmers of America newsletter in Cedar Falls, Iowa, said in a telephone interview. “Exports are going to decline. There’s a tougher time building a strong case on the bullish side.”

Wheat futures for July delivery slumped 1 percent to close at $7.15 a bushel at 1:15 p.m. on the Chicago Board of Trade. Earlier, the price touched $7, the lowest for a most-active contract since April 28. This year, the grain has climbed 18 percent, partly because drought eroded conditions for the winter crop in the U.S., the world’s top exporter.

Areas in central Kansas, the top U.S. grower of the winter variety, got as much as 2.5 inches (6.4 centimeters) of rain this weekend, easing crop stress, Joel Widenor, a meteorologist at Commodity Weather Group in Bethesda, Maryland, said in a telephone interview.

In the medium term, wheat may drop on higher production in the European Union and Black Sea region with prices at $5.75 in 12 months, Goldman Sachs Group Inc. analyst Damien Courvalin said in a report dated yesterday.

Corn futures for July delivery fell 1.6 percent to $4.995 a bushel. A USDA report today may show U.S. plantings were 57 percent complete as of yesterday, up from 29 percent a week earlier, a Bloomberg News survey of 17 analysts showed.

Soybean futures for July delivery dropped 1.5 percent to $14.6525 a bushel.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.