Russia’s wheat exports have kept up with rising global demand, particularly from developing countries.
© Reuters
TOKYO — Global wheat prices have sunk to their lowest level in about three years as Russia pushes exports of a bumper crop, easing food inflation while driving up concerns about an overreliance on Russian grain.
Benchmark wheat futures on the Chicago Mercantile Exchange are hovering in the high $5 range per bushel. In late September, the price touched the low $5 range, the lowest since September 2020.
