Wheat Drops on Russia, Canada Output; Soybeans Fall; Corn Rises
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Wheat fell the most in more than a week on speculation that farmers will boost production in Russia and Canada. Soybeans also declined, and corn rose.
Russia, once the world’s third-largest wheat exporter, may reap as much as 50 million metric tons this year, up from 37.7 million a year earlier, the Agriculture Ministry said March 15. In Canada, production will jump 7.6 percent this year to 27.2 million tons, U.S. Department of Agriculture data show. Planting of spring wheat is set to start in April.