Wheat Falls to Lowest Since June on Winter-Crop Outlook
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Wheat futures fell to the lowest since June as rain boosted prospects for the U.S. winter crop set to emerge from dormancy. Corn prices tumbled the most in five months.
As much as six times the normal amount of precipitation fell in the past two weeks from south-central Kansas through Oklahoma and in the Texas Panhandle, National Weather Service data show. Kansas wheat was rated 24 percent good or excellent as of March 3, up 1 percentage point from a week earlier, and 16 percent of Oklahoma crops got top ratings, up from 9 percent, the U.S. Department of Agriculture said on March 4.