CHICAGO: wheat futures eased to $7.6 per bushel in the second week of January, amid outlooks of higher inventories among the world’s top producers, partially easing concerns of shortages.
Data from the USDA’s World Agricultural Supply and Demand Estimates released on January 12th showed upwardly revised wheat ending stocks projections for the world’s major exporters. US inventories by the end of the marketing year were revised to 17.09 from 16.28 million tonnes.
while those from Russia were revised to 10.63 from 10.23 million tonnes. Still, ending stock projections for the world’s major exporters point to a third consecutive yearly decrease.
Source :Trading Economics
