date:May 10, 2016
Worldwide record wheat harvests are triggering a bearish market.
Wheat futures dropped to their lowest point since mid-April under pressure from speculative funds buying back positions, the global glut and weak export demand, according to analysts.
Before the markets close Friday, CBOT July futures for soft winter wheat slid 55 cents from mid-April prices to $4.63. Soft winter wheat is grown in the eastern corn belt of Illinois, Indiana, Ohio and Kentucky. Kansas City July futures for hard red