They are now back to the US$6-$6.50 range that they traded in for much of 2017-18. The severe Russian heatwave played a major role in reducing this year ’s global wheat crop forecast for the first time in five years , as the crop dropped 6.6 million metric tonnes (mt) to 729.63 million mt from July to August , down 2.9% from last year . In Europe alone the crop forecast has fall from the 132.4 million mt forecast in August to 127.7 million mt in this year . The Russian wheat crop was 68 million mt after a record 68 million mt last year . Forecasts for Australia and Canada remained stable, although both have problems.
The severe Russian heatwave played a major role in reducing this year ’s global wheat crop forecast for the first time in five years , as the crop dropped 6.6 million metric tonnes (mt) to 729.63 million mt from July to August , down 2.9% from last year . In Europe alone the crop forecast has fall from the 132.4 million mt forecast in August to 127.7 million mt in this year . The Russian wheat crop was 68 million mt after a record 68 million mt last year . Forecasts for Australia and Canada remained stable, although both have problems.