Wheat Harvest Outside Ukraine Is Also Under Threat, Adding Pressure to Global Supply

[mahatmakanejeeves]

MARKETS | COMMODITIES

Wheat Harvest Outside Ukraine Is Also Under Threat, Adding Pressure to Global Supply

Closely watched grains report cites dry weather in Europe for weaker-than-expected forecast

By Yusuf Khan
Updated June 9, 2022 8:08 am ET

LONDON—Wheat output in the European Union is expected to fall this year, according to a closely followed survey, threatening to crimp supply from one of the world’s biggest growers at a time when the war in Ukraine has bottled up exports from that country and from Russia.

The weak European forecast and war in Ukraine come ahead of what many analysts expect to be a smaller-than-usual harvest in other global bread baskets like India and Australia. A bad harvest in the EU could further pressure grain markets. Sharply higher prices have already roiled many developing countries that rely on imports.

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[Warpy]

1. They're probably expecting more high temperatures and drought

They grew old varieties of wheat in the Middle East thousands of years ago under those conditions. Maybe it's time for a little science to come up with wheat strains that aren't as finicky. Or maybe Mother Earth has decided that nearly 8 billion of us on the planet (I looked it up) means it's time for a reset.

Hunger, it's what's for dinner unless you're rich.