Farmers and investors are watching wheat prices drop on the Chicago Trade Board, waiting for prices to increase or elevate.
The United States is the biggest exporter of grain and the most active contract for September wheat has plummeted by 15 percent.
“What is suffering from the pressure of a harvest that looks to be better than expect in yields and quality.”  Agritel, a Paris-based farm adviser, wrote on their website. â”The corn market is integrating the very good weather conditions in the Corn Belt.”
As of June 27 farmers harvested 38 percent of the winter’s wheat crops.
U.S. crop appeal has also dropped causing a decline in soybeans and corn prices. This is because there is less demand for biofuel and the U.S. crops have lost appeal.
The U.S. corn crops are listed at 73 percent good or excellent condition. Drier weather will help crops from the past few days of heavy rainfall while the cooler temperatures are ideal weather for planting seeds.
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