March 4, 2013
US snowfall depresses wheat prices
International wheat prices have plunged to their lowest this week as snow dump in the US has eased concerns of the country's continual drought.
Grain trader, Emerald Group, says the snow isn't the only driver of global wheat prices, with private buyers also purchasing Australian wheat.
Emerald's Christian Norgard says it remains unknown whether China's demand will continue, but growers may be considering locking in part of their new season crop to protect against future price falls.
