Wheat prices drop for ninth day on speculation of global supply boost

Wheat prices have dropped for a ninth day in a row, heading for the longest run of declines since September 1998, on speculation that rain may aid US crops, bolstering global supplies.

Corn fell for a fourth day to a seven-week low.

Wheat for July delivery lost as much as 1.3% to $6.655 (€4.85) a bushel on the Chicago Board of Trade, the lowest since April 11, and was at $6.70 (€5) yesterday in Singapore.