Wheat Extends Slide as U.S. Export Sales Drop to Nine-Week Low

Wheat fell for a third straight day, touching the lowest price in a week, after a government report showed a slump in export sales from the U.S., the world’s largest shipper.

U.S. exporters sold 319,599 metric tons in the week ended Sept. 9, the lowest total since July 8, the U.S. Department of Agriculture said today. Egypt, the largest importer, yesterday bought 295,000 tons, mostly from France and Canada. Only 55,000 tons was from the U.S. Higher prices, which are up 54 percent in Chicago in the past year, may be deterring buyers.