Bullish global markets drive wheat futures prices higher

摘要

Global wheat prices have shot up to new record highs, driven by a mix of political uncertainty and supply pressures.India banning wheat exports from the region was the latest major market driver, alongside the conflict in Ukraine and reduced global supply estimates.UK spot ex-farm wheat prices collected by Farmers Weekly on Wednesday 18 May dropped slightly by E1.78/t on the previous week, to total E326/t. Meanwhile, May 2022 UK wheat futures contracts closed at a new peak of E361/t on Monday 16 May, an increase of E25.70 on the previous week.