Wheat Declines as India Plans to Sell Surplus; Corn, Soy Drop
This article is for subscribers only.
Wheat fell after India, the world’s second-biggest grower, issued a tender to export the grain, signaling more supplies. Soybeans and corn slid as U.S. farmers increased sales of newly harvested crops.
India State Trading is seeking to export 120,000 metric tons of milling wheat from Mundra port during Nov. 24-Dec. 20, according to a notice on its website today. The country will consider lowering the minimum export price of the grain to reduce domestic stockpiles. Futures that reached a four-month high on Oct. 21 are trading near the biggest premium to corn since September 2010.