Wheat prices fall to pre-war levels

Wheat prices have dropped to the level they were before the Russia-Ukraine war began, market analysts say, citing a lack of demand. Soft white wheat is $9 per bushel on the Portland market, down from $11 to $11.50 per bushel a month ago. "A drop going into Northern Hemisphere harvest isn't super surprising," said Byron Behne, senior merchant at Northwest Grain Growers in Walla Walla, Wash. "Getting below the price of wheat prior to the start of the war while the war's still going on is pretty surprising, though." "We've had a major correction," said Dan Steiner, grains merchant at Morrow County Grain Growers in Oregon. "I think this market has got to go down to find some demand."