US wheat futures log ninth straight weekly loss
US wheat futures fell for a ninth consecutive week last week. In eastern Australia, forecast rain is raising concerns about crop quality and quantity.
US wheat futures, the exchange-traded contracts for future delivery of wheat, lost value for a ninth consecutive week last week. The grain industry website Grain Central reported this in its daily market wire on 2 November.
Rain worries in Australia
Weather is also affecting the picture in eastern Australia. Forecast rain there has prompted concerns about both the quality and the quantity of the crop.
Why it matters
Both developments matter to grain market participants, because wheat prices respond to trading activity on exchanges as well as to growing conditions in major producing countries. The source gives no further data on price levels or the size of the decline, so no exact figures are included here.
