Wheat Declines on Speculation Rains to Advance Sowing in Russia
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Wheat declined, reversing earlier gains, on speculation that rains forecast in Russia may help the sowing of winter crops after the worst drought in at least 50 years slashed output and prompted a ban on grain exports.
Wheat for December delivery dropped 0.4 percent to $7.0475 a bushel on the Chicago Board of Trade at 1:39 p.m. in Singapore compared with an earlier gain of 0.3 percent. The price fell the most in a week yesterday.