The price of wheat drops to the lowest level in 9 months, with a harvest proximity

Future wheat contracts have dropped to their lowest level since July 2024, as the harvesting season in the northern half of the world has approached, as crops have benefited from a number of the largest countries that have produced rain. Dennwealth Bank of Australia, said by phone that many of the largest exporters will start harvesting the crop near the middle of the year. Which pushes the prices in the short term, as the flow is expected to increase the stock. He added that the conditions of crops in some of the largest producing countries, such as the United States and Russia, are also not a concern as expected. The company, “Vizala”, indicated that climate expectations were issued on Friday that rain showers will be raised throughout the current week in the Black Sea region, which will improve the moisture of the soil and benefit the planting of wheat in winter, to the drought and cold that occurred earlier this season. Wheat shares near the lowest level in a decade that the US government is expected to make its first forecast for supply and demand in the world for the 2025-2026 season in a report that will be released later on Monday, and estimates are expected to indicate that the amount of global shares in a “Bloomberg” survey has reached. To exceed the level of 261 million tonnes at the end of the current season. Nevertheless, shares of this size will remain near the lowest level in about a decade, leaving the market vulnerable in the event of any weather conditions before the crop reaps. ‘Vizala’ also drew attention to the continued drought in increasing areas of the European Union, while farmers in China also suffer from bad weather. In other markets, the price of soybeans has risen to the highest level in two weeks after the United States and China ‘concrete progress’ announced after negotiations that strive to calm the tariff war. Although no specific measures have been announced yet, this breakthrough can eventually help resume the trade crops stopped between the two countries. China is the largest importer of soybeans in the world.