U.S. Wheat Hits Lowest Since September 2021

Chicago Board of Trade wheat futures dropped 1.6% to their lowest level since September 2021 on Monday as rain across key growing areas during the weekend boosted harvest prospects for the U.S. crop, traders said.Optimism that the deal allowing grain shipments from Black Sea ports in war-torn Ukraine will be renewed in the coming weeks pressured both corn and wheat. The agreement has increased competition for suppliers of wheat and corn and expires in March.