Other countries are also facing adverse weather and supply chain challenges, adding to volatility in the wheat market.

While a cool, wet spring has pushed US winter wheat conditions below average, Gregg Doud with Aimpoint Research tells Brownfield extreme heat is plaguing the crop in India.

“The USDA, and I think rightfully so, had indicated that India might increase their wheat exports from about 2.5 million up to 8 million tons, but recently India has said that’s not going to happen.

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