Wheat Caps Longest Slump in Seven Weeks as Exports Sag
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Wheat futures fell, capping the longest slump in seven weeks, as demand sagged for supplies from the U.S., the world’s top exporter. Corn prices dropped, and soybeans rebounded.
U.S. wheat export sales in the week ended Oct. 30 fell 40 percent from a week earlier, government data showed yesterday. The United Nations’ Food & Agriculture Organization raised its forecast for global production by 0.6 percent to a record 722.6 million metric tons.