Commodities
US Wheat Comes to Rescue Market Plagued by Russian Shortfall
- Annual crop tour see Kansas wheat harvest topping USDA outlook
- Benchmark prices have jumped more than 10% this month
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Wheat is one of the world’s most-vital crops. The grain is used in staples like bread, couscous, chapatis and noodles — and high prices for the commodity have a long history of kickstarting unrest.
Current global inventories are tight, and a spat of bad weather means analysts have been chopping estimates for the next harvest from Russia, the world’s largest exporter. Benchmark prices have jumped more than 10% just this month.