Wheat Falls Most Since 2009 on Higher Planting Bet
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Wheat futures fell the most since mid-2009 on speculation that farmers will boost acreage next year after prices surged to a 23-month high following Russia’s ban on grain exports.
U.S. wheat yesterday traded at the highest premium over corn since April 2008 at export terminals in New Orleans, government data show. NYSE Liffe said the volume on its milling-wheat futures reached a record 74,729 contracts yesterday, when trading in Chicago was more than double the 30-day average.