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Story perspectives

Wheat Prices Surge Amid Drought and Supply Concerns

3/18/2025

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Summary

Story summary

May corn increased to $4.61, while May soybeans decreased to $10.15½.
Wheat prices rose, with CBOT wheat at $5.68½ and KC wheat at $6.05½, amid drought fears in the U.S. southern Plains.
June live cattle and lean hogs gained, closing at $201.08 and $99.13 per cwt, respectively.
Wheat futures spiked due to lower Russian production forecasts and persistent supply issues from Ukraine.

History

Historical Context

The recent spike in wheat prices echoes the 2012 U.S. drought, which devastated corn and soybean yields, causing price surges and farmer unrest. Today, drought fears and geopolitical tensions, particularly from Ukraine and Russia, threaten global food security, highlighting the interconnectedness of agricultural stability and international relations.

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Story summary

May corn increased to $4.61, while May soybeans decreased to $10.15½.
Wheat prices rose, with CBOT wheat at $5.68½ and KC wheat at $6.05½, amid drought fears in the U.S. southern Plains.
June live cattle and lean hogs gained, closing at $201.08 and $99.13 per cwt, respectively.
Wheat futures spiked due to lower Russian production forecasts and persistent supply issues from Ukraine.

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