Wheat drops 23% since last July

Source: Bloomberg
Wheat traded on the Chicago Board of Trade increased on Wednesday, however, wheat futures fell by 23% since last July, when it reached a four-year high at $9.4725 a bushel. The contract for May delivery jumped 0.8% to $7.2775 by 3:34 p.m. in Singapore today after a report by the Bangladesh's Directorate General of Food showed that the country may boost purchases by 19% in 2013.

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