Mumbai, Aug. 27 -- US wheat futures have soared over last few weeks as markets eyed weak supplies outlook. The benchmark futures have hit near $7.70 per bushel today, jumping to the highest in three years as media reports stated that Russia is preparing to escalate attacks on Ukraine. Market is also eying a drop in European output. The drought in Europe is hurting the Wheat harvest, with a recent estimate from France's agricultural ministry suggesting their 2026 wheat production may be close to 32 million tons, down nearly 7% from the previous year. This is primarily due to El Nino weather conditions. Global wheat futures have surged around 18% this month.
Published by HT Digital Content Services with permission from Capital Market....