Wheat futures are lower, as traders worry about abundant supplies for the grain as growing areas in the U.S. get ample amounts of rain.
Wheat futures have been falling over the past two weeks as newly planted winter wheat crops in the southern Plains and eastern Midwest get plenty of moisture, said Todd Hultman, a grain analyst with DTN in Omaha, Neb.
Wheat for December delivery fell 6.75 cents to $6.56 a bushel Tuesday. It’s down about 6.5 percent since Oct. 23.
December corn fell 1.25 cents to $4.25 a bushel, and January soybeans fell 6.25 cents to $12.5025 a bushel.
In metals trading, December gold fell $6.60 to $1,308.10 an ounce.