Wheat fell to its lowest level in a week due to increasing optimism about global supply

Wheat futures fell to their lowest level in more than a week, amid indications that global supply may not be as constrained as some had feared after Russia’s war on Ukraine erupted more than a month ago.

And the “Bloomberg” news agency reported today, that prices fell for the fourth time in five days, and also fell by more than 20% from the daily record that was recorded on the eighth of March.

Meanwhile, the impending distress eased, as the delivery cost for May shrank through December to about 50 cents a bushel, compared to about $2.75 in early March.