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Wheat price at record low since June 2012, global production at all-time high

December 16, 2013, 16:43 UTC+3 MOSCOW
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MOSCOW, December 16. /ITAR-TASS/. The price of wheat is at its lowest since June 2012 amid easing weather risks in the U.S., the major wheat exporter. This increases the probability of a record high harvest worldwide this year.

Wheat futures for March 2014 delivery fell 0.5 percent to $6.2575 per bushel (about 35-36 litres).

This year, the wheat price has already dropped 20 percent amid increased global production to an all-time 711.42 million metric tonnes, says the U.S. Department of Agriculture.

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