Wheat hits four-month low

© Scanpix/RS

Wheat futures slipped to the lowest level since June being pushed by high competition for US exports and bleak economic perspectives of the euro-zone. On the Chicago Mercantile Exchange, wheat futures for December delivery were traded at USD 5.7950 a bushel during early European trade, declining 2.31%. Wheat prices were also impacted by unrest in Egypt as the country agreed to buy 240,000 tons at a tender.