22.09.2014 - U.S. Wheat Prices Pushed to Four-Year Low
U.S. wheat prices sit at the lowest level in more than four years, buffeted by sluggish demand for U.S. supplies amid abundant global stockpiles of the grain. Bumper crops around the world have added to supplies, driving global prices lower and reducing demand for U.S. wheat which, when shipping charges are added, is more expensive than grain produced in places such as the European Union and Ukraine. "We continue to see decent demand in the Western hemisphere for wheat, but our freight rates are so much higher overseas," said Shawn McCambridge, senior grains analyst for brokerage Jefferies Bache Commodities LLC. "You add that freight in, and we can't be competitive in major markets."..............................................Full Article: Source
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