Wheat Jumps Most Since November on Tighter Supplies, Fewer Acres
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Wheat surged the most since November on mounting concern that inventories and winter-grain planting fell short of analyst forecasts in the U.S., the world’s largest exporter.
Stockpiles on May 31 will total 716 million bushels, down 5 percent from a December forecast and the 741 million estimate by analysts surveyed by Bloomberg News, the U.S. Department of Agriculture said on Jan. 11. Growers planted 41.819 million acres with winter varieties from September through November, less than the 42.585 million expected by analysts, USDA data show. Prices are up 3.2 percent in two sessions.