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Wheat Poised for Bear Market on Signs of Rising Global Reserves

Posted on 11 June 2014

Wheat prices are poised to enter a bear market on signs that global inventories are climbing as demand wanes for supplies from the U.S., the biggest exporter.
Global stockpiles before the 2015 harvest may rise to the highest in three years, a Bloomberg survey shows. American exporters have sold about 30 percent less wheat for shipment before June 1 than at this time a year earlier, according to government data. The dollar has gained 1.3 percent against a basket of 10 currencies since May 6, when futures touched the highest since February 2013………………………………………..Full Article: Source


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