CBOT Review: Wheat sinks with rising inventoriesThis article was originally published in The Public Ledger
WHEAT futures in Chicago hit a three-month low on Wednesday, sinking below the psychologically important US$6.00 a bushel barrier. This occurred after the government raised projections for US inventories at the end of the 2014-15 season. In today’s monthly report, the government says there should be 574 million bushels at the end of the 2014-15 season next May. That compares to earlier estimates of 540 million bushels.