Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Wheat Declines as U.S. Exports Signal Lower Global Demand

Jan. 29 (Bloomberg) -- Wheat futures fell for the first time in three sessions as export data in the U.S., the world’s biggest shipper, signaled lower global demand.

From June 1 through Jan. 17, exports were 14.5 million metric tons, down 12 percent from a year earlier, U.S. Department of Agriculture data show. Prices headed for a monthly decline after tumbling 14 percent in the fourth quarter, the most since mid-2011.

“Everybody was saying what great wheat demand we were going to have, and it never did happen,” Tom Leffler, the owner of Leffler Commodities LLC in Augusta, Kansas, said in a telephone interview. “We’re in the second half of the marketing year, and it’s still not happening.”

Wheat futures for March delivery fell 0.3 percent to settle at $7.77 a bushel at 2 p.m. on the Chicago Board of Trade. Earlier, the price gained as much as 0.7 percent.

In the U.S., wheat is the fourth-largest crop, valued at $14.4 billion in 2011, behind corn, soybeans and hay, government data show.

To contact the reporter on this story: Tony C. Dreibus in Chicago at tdreibus@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.