Additionally, the harvest for winter wheat is coming in, which should temporarily raise supplies and pressure prices.
The commodity has seen a 11% increase this year through May 16 as speculators pushed up prices on supply concerns out of the Black Sea region due to escalating geopolitical tension between Ukraine and Russia. WEAT is up 8.1% year-to-date. [Wheat, Corn ETFs Strengthen on Escalating Tension in Ukraine]
Teucrium Wheat Fund
For more information on the wheat market, visit our wheat category.