Wheat Dips to Lowest Since 2021 on Good Weather and Big Acreage
- US snowfall may protect against upcoming cold: forecaster
- Soybeans, corn fall a fourth day as rain aids Argentina crops
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Wheat touched the lowest price since September 2021 as good winter crop weather and big plantings in the US help calm worries of global grain shortfalls.
Dry areas of Kansas, a top producer, benefited from snow over the weekend and more precipitation is forecast for the Southern Plains this week. The moisture boost comes as money managers have raised their bearish bets on Chicago wheat to the highest in almost four years, as supply concerns ease over weather setbacks and exports out of the war-torn Black Sea.