Wheat Rises as U.S. Export Demand Gains After Price Slump
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Wheat fell for the third straight day on speculation that the U.S. Department of Agriculture tomorrow will say winter seeding from September through November surged to a four-year high.
Sowing in the U.S., the world’s biggest exporter, may have jumped 4.8 percent from a year earlier to 42.585 million acres, according to a Bloomberg News survey of 22 analysts. The USDA will release its planting report at noon in Washington tomorrow. Prices jumped 19 percent in 2012, increasing the incentive for farmers to seed the grain, said Jason Britt, the president at Central States Commodities Inc.