Wheat Extends Slump as Rising Stockpiles Seen Cushioning War Impact
- U.S. wheat export sales fell short of expectations last week
- Corn rises on robust demand, soybeans gain on supply worries
This article is for subscribers only.
Wheat futures tumbled as much as 10%, the most since 2008, following disappointing U.S. export sales even as a quarter of the grain’s global trade is at risk due to Russia’s invasion of Ukraine.
Wheat sales to other countries were unchanged last week from the prior one, below the average Bloomberg survey estimate., the U.S. Department of Agriculture said Thursday.