Poor harvests boost prices on wheat

Tuesday, 11/07/2017 | 10:58 GMT

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Larson&Holz analysts point out that during the past ten days quotes on wheat have grown from $449 per bushel to $574 per bushel.

Comparing to the beginning of June, the quotes have jumped by 36%, hitting the ceiling price since 2014. It was caused by the following factors:
- Drought and wild fires in the USA;
- Farmers’ wheat planting in Canada being lower than expected;
- Wheat yield in Europe decreasing by 1%;
- The planted area in the USA decreasing by 9% and reaching its minimum since 1919 – 45,7 mln acres

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