Larry Glenn News
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Wheat slid, capping the biggest weekly drop since March, on signs that global production will rise to a record as exports lag behind last year’s pace in the U.S., the world’s top shipper.
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The coldest start ever to the wheat-growing season in Kansas and freezing weather across the southern Great Plains are compounding damage to U.S. crops already hurt by the worst drought since the 1930s.
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A snowstorm that’s already forced shutdowns of government offices in Kansas is bringing some much- needed moisture for dormant wheat crops across the Great Plains, where last year’s drought eroded crop conditions.
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Wheat futures slumped to a three- week low as a canceled order by Egypt , the world’s largest importer, signaled buyers may be balking at prices that last month were at the highest level since 2008.
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Wheat fell for the first time in three days as favorable weather conditions raised prospects for the winter crop in the U.S., the world’s biggest exporter of the grain.
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What follows are opening calls for U.S. grain and oilseed markets, which open at 5 p.m. on the Chicago Board of Trade.
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Wheat fell for the second time in three sessions as snowfall expected in Kansas, the biggest U.S. grower of winter varieties, eased concern that drought in the Great Plains will damage crops. Corn fell, and soybeans rose.
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Wheat fell to the lowest price this month as planting in the U.S., the world’s biggest exporter, progresses with ample rainfall in key areas.
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Wheat futures extended the biggest advance in a week on unexpected demand from China for exports from the U.S., the world’s largest shipper.
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Wheat futures fell the most in almost three months as rain in the U.S. Great Plains improved the prospects of winter crops.
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