The price of wheat drops near the lowest level in 5 years, amid the increasing offer

In recent days, the future contracts for wheat in Chicago have been declining with the progress of the crop in the main countries produced from Ukraine to the European Union. New crops are scheduled to enter the market at a time when global demand is still weak, which increases pressure on the prices of pills used in the production of pasta and bread. The most active contract is on its way to the sixth session in seven sessions and approaches its lowest level in five years. A poor demand for wheat, the demand for wheat is still poor. Since future contract prices are constantly declining in recent days, there is nothing that leads buyers to return to the market quickly, according to a memorandum of “Higher Report”. Also read: The major wheat producers in the world delay the rate of export, the winter of the winter wheat crop in the United States is over, while the harvest of spring wheat has just begun, at the same time the crop operations also occur in Ukraine, Russia and the European Union. The memo indicated that the increasing supplies make it difficult for wheat to reach the freshness in prices. In other markets, the atom dropped for the fourth consecutive day, while soybean prices rose slightly.