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Wheat Falls as Farmers May Plant More, Stocks Deemed Sufficient

Wheat slid for a second day on speculation farmers will plant more of the grain after prices surged to a 23-month high last week and as stockpiles are considered sufficient to meet demand.

December-delivery wheat fell 2.5 percent to $7.365 a bushel on the Chicago Board of Trade at 2:14 p.m. Paris time. The contract plunged 7.4 percent on Aug. 6 after soaring to $8.68, the highest level since August 2008, following Russia’s ban on grain exports.