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.
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.
What follows are opening calls for U.S. grain and oilseed markets, which open at 5 p.m. on the Chicago Board of Trade.
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.
Wheat futures fell the most in almost three months as rain in the U.S. Great Plains improved the prospects of winter crops.
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.
Wheat fell for a third straight session after Egypt, the world’s largest buyer, shunned U.S. supplies and bought Russian grain.
Corn fell, capping the largest weekly drop in six months, on speculation that favorable weather will boost planting in the U.S., the world’s top producer. Hard-red wheat rose to a 14-month high, and soybeans gained.
Wheat fell for the first time in four sessions on speculation that rain will improve crop prospects in the U.S. and Australia .
"It sounds like we had an active harvest over the weekend, and we're going to have good harvest weather in front of us."
- Larry Glenn on Oct 20, 2014