(Bloomberg) -- The most actively traded wheat futures in Chicago were hovering around their lowest level in five years, as harvests in major producers from Ukraine to European Union get underway.

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The new crops are set to enter the market as global demand remains sluggish, lending further pressure on prices of the grain used to make noodles and bread.

Wheat demand remains poor and with futures prices falling steadily over the past 10 days, there is no urgency for buyers to quickly step back in, according to the Hightower Report.

Meanwhile, the US winter wheat harvest is in the final 15% but hard red spring crops are just starting, while Ukraine, Russia and the EU are all harvesting, the report said. It’s tough for wheat prices to rally in the face of increasing supplies, it added.

In other markets, corn slipped for a fourth day while soybeans edged up slightly.

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