The U.S. Department of Agriculture said that world wheat stocks will be lower because of lower production in Ukraine according to a department report, RBC-Ukraine with reference to Bloomberg. "World reserves amount to 177.77 million tonnes as at 31 May, which is 0,1% less than forecast in January (177.99 million tons)," - says the report. According to American ministry in Ukraine produced 16.85 million tons of wheat, which is 2% less than the estimates in the past month (17.2 million tons). Until today, futures for wheat rose by 81% on the Chicago Mercantile Exchange, after a drought last year cut production in Eastern Europe. Yesterday, futures for the March delivery rose 15.5 cents (1.8%), amounting to $ 8.7425 a bushel.
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