Wheat Falls From Record as Prices May Curb Demand for Feed, U.S. Exports

(Bloomberg) -- Wheat fell from a record in Chicago,
erasing a 4.2 percent gain, on speculation high prices for the
grain will curb its use in animal feed and damp overseas demand
for U.S. supplies.

A bushel of wheat now costs 74 percent more than a bushel
of corn, also used to feed livestock, dairy cows and poultry.
U.S. sales of wheat for delivery in the marketing year that
began June 1 have climbed 18 percent from last year after rains
damaged crops in the Great Plains and boosted early season
buying, Department of Agriculture data show.


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