Wheat Price Falls On High Crop Expectation And Ample Stocks

Wheat price in international market falls on expectations of bumper crops and ample stock in inventories. According to the U.S. Department of Agriculture forecast, the worldwide stock-to-use ratio of Wheat will reach 36% at the end of May 2017. This will be the highest level in about 20 years.
The Wheat stockpile in the U.S. is expected to exceed 1 billion bushels for the first time in 29 years by May 2017.
Wheat futures in Chicago, the global benchmark, changed hands at $4.30 per bushel on Thursday which was lowest level seen in past 10 years.

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