Wheat Falls to Five-Month Low as U.S. Exports Decline
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Wheat futures fell, extending a slump to a five-month low, on signs that demand is waning for exports from the U.S., the world’s top shipper. Corn and soybeans also declined.
As of Dec. 13, U.S. exporters shipped 12.8 million metric tons of wheat for delivery in the 12 months that started June 1, down 13 percent from a year earlier, Department of Agriculture data show. Importers opted for grain from producers including Russia and Australia. Droughts that limited production in those nations haven’t spurred demand for U.S. supplies yet.