Business

Wheat logs its biggest weekly decline since 2011

By Steve Rothwell
Published May 16, 2014 9:21pm ET
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NEW YORK (AP) — Wheat logged its biggest weekly drop since 2011 as traders reassessed the outlook for supplies of the grain.

The price of wheat for July delivery fell 4 cents, or 0.6 percent, to $6.74 a bushel on Friday. The grain has fallen for eight straight days and is down 6.6 percent this week, its biggest such decline since September 2011.

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