Wheat Tumbles Most in Three Months as Chinese Demand May Wane
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Wheat futures plunged the most in three months on speculation that China’s demand will wane and as wet weather in the U.S. may spur development of winter crops.
The Thomson Reuters/Jefferies CRB Index of 19 commodities tumbled as much as 3.2 percent today on mounting concern that China will move to cool its growth. Parts of the Great Plains got as much as 2.5 inches (6.4 centimeters) of rain last week, improving prospects after fields received less than half the normal amount in the past month, according to Commodity Weather Group LLC.