Dusty wheat fields spell peak for global glut Read

It's finally starting to look like the world wheat glut has peaked.

Dry, hot weather from the US to Europe is taking its toll on crops, and the US government is forecasting global output will fall for the first time in five seasons. The adverse conditions have pushed benchmark futures in Chicago to their best start to a year in a decade, a stark reversal from the previous four years when burdensome supplies dragged down prices.