Wheat, Corn Fall on Slowing Demand for U.S. Crops; Soybeans Drop
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Wheat futures fell to a five-month low and corn dropped the most in a week after a government report showed slowing overseas demand for supplies from the U.S., the world’s biggest exporter. Soybeans declined.
Shipments of wheat inspected for exports slumped 9.1 percent to 15.128 million bushels in the week ended Dec. 20, the lowest for the period since 2009, the U.S. Department of Agriculture said today in a report. Corn-export inspections dropped 66 percent from a year earlier to 13.475 million bushels, the USDA said. Since Sept. 1, shipments of the grain have tumbled 53 percent from a year earlier.