TOKYO -- Record harvests are depressing global grain prices, a trend that likely will discourage farmers already squeezed by higher costs from increasing production and potentially trigger a spike in prices in the coming season.
Lead contracts for Chicago wheat futures fell as far as $5.20 per bushel on March 11, the lowest in roughly three and a half years. Corn and soybeans also fell to their lowest points since November 2020 in late February.
