Analysis

Heat wave causes Indian wheat crop forecast slump

By Ed Scamps, Cloudbreak Grain Marketing
May 13 2022 - 1:00am
Indian crop bowled over

World wheat futures have scored new highs amid concerns over Indian wheat exports for the 22/23 season and the return of dryness to the United States. Amid improved US rainfall, SRW wheat futures entered a short-term downward trend with the recent low testing 1050 US cents a bushel. However, this weakness was short-lived as the market has now made new highs propelled by the Indian supply shock.

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