Russian wheat shortfall possible boon to US exporters of corn

Corn prices are well off yearly lows but have not surged to nearly the extent of wheat, creating a wheat-corn premium not seen in almost two years. — Reuters

HISTORIC heat, dryness and frost have walloped Russia’s winter wheat crop over the last several weeks, slashing harvest estimates for the top exporter and spurring a healthy rally in global wheat prices.

Corn prices are well off yearly lows but have not surged to nearly the extent of wheat, creating a wheat-corn premium not seen in almost two years.