Wheat depreciates on rain speculation

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Source: Bloomberg
Wheat futures for March settlement were lower by 0.4% to $7.765 for one bushel on Chicago Board of Trade in Singapore trading session on Tuesday. Wheat futures were higher by 19% last year, but are lower by 0.2% this year. Today, wheat is traded negatively for the first time in last three trading sessions, on speculation that the U.S. Great Plains will experience rain and bring a relief for crops.
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