U.S. Wheat Crop Forecast To Hit Half-Century Low As Drought Hits Breadbasket

U.S. Wheat Crop Forecast To Hit Half-Century Low As Drought Hits Breadbasket Chicago wheat futures surged on Tuesday, hitting two-year highs after the USDA's latest WASDE report signaled a much tighter U.S. supply outlook than traders had anticipated. Production stress across America's breadbasket is now converging with a megadrought and mounting fertilizer constraints, adding upward pressure on prices at a time when global food prices are rising. 🌾Due to poor crop health an...

By Tyler Durden