Commodities
Bad Weather and War Are Straining the World’s Wheat Supply
- Futures are near eight-month high as crop risks spook traders
- Rain, drought and heat are threatening supplies in key growers
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Bad weather and war are threatening to keep the world’s wheat supplies under strain and reviving the specter of rising food costs.
From soggy fields in western Europe to parched soil in Australia and Moscow’s invasion holding back Ukrainian supplies, farmers face setbacks. That means global stockpiles will remain the smallest in almost a decade, according to analysts surveyed ahead of the US government’s first forecast for next season.