SINGAPORE- Chicago wheat futures slid for a fourth consecutive session on Wednesday, weighed down by worries over demand for agricultural products following a recent rally in prices.
Corn and soybeans were little changed.
“Prices have gone up a lot and now we are seeing the impact on demand,” said one Singapore-based trader. “Buyers are reluctant to lock deals at current price levels.”
The most-active wheat contract on the Chicago Board of Trade (CBOT) fell 0.2 percent to $7.21 a bushel. In August, wheat futures climbed to their highest in more than eight years. – Reuters