Grains struggled to start the week as concerns over a global economic slowdown and the ongoing war in Ukraine weighed on prices.Grains struggled to start the week as concerns over a global economic slowdown and the ongoing war in Ukraine weighed on prices. Wheat futures fell 2.5% on Monday to settle at $8.20 per bushel, the lowest price in two weeks. Corn futures also declined, falling 1.5% to $6.30 per bushel. Soybean futures were down 1% to $13.70 per bushel. The declines came as traders worried about the potential for a global economic slowdown. Fears of a recession have been growing in recent weeks as central banks around the world raise interest rates in an effort to combat inflation. The war in Ukraine is also continuing to weigh on grain prices. The conflict has disrupted grain exports from the Black Sea region, which is a major supplier of wheat and corn to the world market. The declines in grain prices came despite a forecast for a smaller-than-expected wheat crop in the United States. The US Department of Agriculture estimated that the US wheat crop will be 4.95 billion bushels, down 1.3% from its previous forecast.
Grains struggle to start the weekBar chart
