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Decreasing US Wheat Exports Cause Slump of Prices

September 16, 2010 at 20:36 by Vladimir Vyun

Wheat fell today for a third consecutive day after exports from the US, the largest exporter, decreased. Egypt, the biggest importer, bought 295,000 metric tons yesterday. Only 55,000 were from the US. For the most part purchases were from Canada and France. US exporters totally sold 319,599 tons in the week ended September 9th. Previously prices jumped as supplies from Russia and Ukraine declined after dry weather. December futures for wheat delivery slumped $0.0575 (0.8 percent) to $7.21 per bushel by 10:03 on CBoT.

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