Friday, 11 March 2011
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Wheat Heads for Biggest Weekly Drop in 2 Years as Supply Eases; Rice Falls
Wheat headed for the biggest weekly drop in more than two years in Chicago after the U.S. unexpectedly raised its global supply estimate. Rice and corn also declined on forecasts for bigger supplies. Global wheat inventories will total 181.9 million metric tons at the end of the marketing year on May 31, up 2.3 percent from last month's estimate, the U.S. Department of Agriculture saidyesterday.
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