Wheat Caps Biggest Weekly Drop Since January on Russia Rains
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Wheat futures fell for a fifth straight day, capping the biggest weekly decline since January, on speculation that rain will improve prospects for crops being planted in Eastern Europe and Russia.
Parts of Ukraine and southern Russia may receive 0.3 inch (0.8 centimeter) of rain tomorrow, and western Kazakhstan may get 0.4 inch, according to AccuWeather Inc. data. Wheat prices surged 40 percent in the third quarter after drought in the region harmed crops, spurring Russia to ban grain exports.