Wheat in Chicago fell the most in two weeks after Japan suspended imports from the U.S., where an unapproved, genetically modified strain was discovered in an Oregon field.
Wheat rose for a second day in Chicago, extending a rebound from a nine-month low on concern frost in the U.S. hurt the winter crop and as wet weather may delay spring planting.
Chinese officials are considering purchasing as much as 7 million tons of U.S. wheat depending on the progress of trade talks, according to people with knowledge of the matter.
Conditions for the cotton crop in the U.S., the world’s biggest exporter, are deteriorating as dry weather erodes planting prospects in Texas, the top state grower.
Cotton entered a bear market as improved prospects for crops in the U.S., the world’s biggest exporter, compounds the outlook for abundant world supplies.
