TOKYO -- Global wheat prices have reached a roughly 14-month low thanks to larger-than-expected shipments out of Russia, fueling hopes for an end to surging food costs.
Benchmark Chicago wheat futures fell for the fourth straight session Tuesday, reaching a low of $7.23 per bushel at one point. This was 9% lower than the end of November, and around half the upper $13 range high in March, shortly after Russia began invading Ukraine.
