Wheat Falls as Russia Eases Limits, Australia Sees Bumper Crop
- Wheat had been on track to rise for fifth straight month
- Soy, corn retreat after limited South American rainfall
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Wheat prices fell after Australia forecast its second-highest crop ever and Russia proposed curtailing grain exports next year.
Wheat futures fell as much as 3.3% to $5.85 3/4 a bushel in Chicago trading, the lowest for the contract in almost eight weeks. Corn and soybeans also fell following rainfall in South America during the weekend.