Wheat extends July rally as war risks stoke fears over supply
The grain surged 4.1% on Wednesday to near a three-year high, before easing as traders locked in profits. Scorching temperatures have dented production prospects in major producers France and Germany, while grain output in the European Union is projected to fall by more than 9% this year, the steepest annual drop in more than two decades.
- ▪The grain surged 4.1% on Wednesday to near a three-year high, before easing as traders locked in profits.
- ▪Scorching temperatures have dented production prospects in major producers France and Germany, while grain output in the European Union is projected to fall by more than 9% this year, the steepest annual drop in more than two decades.
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Listen to this article in summarized format Listen Loading...×× Subscribe to Unlock AI Briefing and Premium ContentNew Year Offer 24 Hours LeftSubscribe NowAlready a member? Sign InWhat's IncludedExclusive StoriesDaily ePaper AccessSmart Market ToolsCurated Investment IdeasAd-lite Experience SubscriptionReutersScorching temperatures have dented production prospects in major producers France and Germany, while grain output in the European Union is projected to fall by more than 9% this year.Wheat resumed its rally after a brief bout of profit-taking, as escalating geopolitical tensions and worsening weather in key producing regions continued to stoke supply concerns.
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