Wheat futures fell to around $5.50 per bushel, retreating from a recent one-month high of nearly $5.59. The earlier rise was fueled by concerns over severe cold in U.S. wheat-growing regions and ongoing drought in Argentina. The decline is largely due to a technical correction as traders closely watch trade policy developments. Meanwhile, the USDA's attaché in Canberra estimated Australian wheat production at 32 million metric tons, marking the third-highest output on record despite some growing season challenges. Russia's wheat crop remained stable, though weather-related risks continue to pose a threat.

#WheatFutures #CommodityMarkets #GlobalWheatProduction #USWheat #AustralianWheat #RussianWheat #DroughtImpact #AgricultureUpdates