Hard Winter Wheat Rises Most in Seven Weeks on Supply Fears
- India is weighing export curbs after extreme heat hurt harvest
- Drought and floods are putting North American crops at risk
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Hard red winter wheat gained the most in seven weeks as severe weather worldwide intensifies concern about shrinking food supplies.
Heat has hurt wheat crops in India, spurring the country to mull export restrictions, Bloomberg reported Wednesday. The move threatens to further tighten the amount of grain available on the world market, especially since Indian shipments have been booming in the wake of Russia’s invasion of Ukraine.