By Tarso Veloso and Megan Durisin
From Bloomberg News
Wheat futures rose for the second consecutive day with worries about short-term supply and adverse weather for crops.
Adverse weather across the U.S. plains states is giving support to futures, while the Ukrainian grain association expects that its harvest could shrink to 18.2 million tons, almost halving last year’s output. Both the U.S. Department of Agriculture and United Nations cut their outlooks for Ukrainian corn shipments on Friday.
“The condition of the U.S. crop matters a lot more with Ukraine absent,” said Arlan Suderman, chief commodities economist at StoneX.
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