Wheat Drops Below $8 a Bushel for the First Time in Five Months
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Wheat fell below $8 a bushel for the first time since July 3 in Chicago amid concerns of a lack of export demand and as snow in the central U.S. and a jump in German plantings boosted the outlook for production next year.
Egypt’s state grain buyer bought 120,000 metric tons of U.S. soft red winter wheat yesterday, less than half the 280,000 tons of U.S. wheat purchased in a Dec. 1 tender.