Wheat Set for Longest Rout Since November on US Harvest Pressure
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Wheat futures headed for the fifth straight daily decline — the longest such streak in over six months — as the American harvest progressed more quickly than analysts expected.
Prices for the staple grain had posted their biggest monthly jump in two years in May as the crop in Russia, the world’s top exporter, withered in drought. Now, wheat is starting to pile up in the southern US Plains as traders wait for global buyers to pivot to fresh American grain supplies.