Wheat, Soybeans Drop as Investors Await Fed Meeting’s Outcome
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Wheat and soybeans fell for a second day in Chicago as investors awaited the outcome of a U.S. Federal Reserve meeting that may affect borrowing costs and investor appetite for commodities. Corn dropped.
The central bank probably will announce few, if any, policy changes, economist Dennis Gartman said in his daily newsletter. The end of the Fed’s second round of bond-buying, known as quantitative easing or QE2, is approaching in June.