date:Jun 12, 2014
t price since February 28. Wheat sagged as traders positioned for USDA's report. Analysts surveyed by Reuters estimated on average that USDA would raise its forecast of US 2014/15 wheat ending stocks by 2.2 percent, to 552 million bushels, from 540 million in May, and raise its 2013/14 stocks forecast as well.
CBOT July wheat has fallen about 19 percent since early May on prospects for plentiful global wheat supplies and stiff export competition as the Northern Hemisphere readies for harvest.