Wheat Extends Decline to 1.2%, Falling for Fourth Day on USDA
February 09, 2012, 8:57 PM ESTBy James Poole
Feb. 10 (Bloomberg) -- Wheat futures tumbled as much as 1.2 percent, dropping for a fourth day to post the longest losing run since mid-December, after the U.S. Department of Agriculture predicted record world stockpiles.
Wheat fell as low as $6.3825 a bushel, the cheapest since Jan. 30, before trading at $6.3925 at 9:32 a.m. Singapore time.
The grain dropped the most in four weeks yesterday after the agency said global stockpiles may climb to an all-time high before the next harvest, signaling ample supply and lower food prices.
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
