Wheat falls on US export concerns; other commodities mixed on disappointing economic news

Wheat prices fall on concerns about US exports

Wheat prices are backtracking amid concerns about U.S. sales overseas after the Ukraine decided against limiting grain exports in the wake of a drought.

Wheat for December delivery fell nearly 4 percent Wednesday.

Wheat prices have risen in part because of speculation that more of the U.S. harvest could be sold overseas after a drought damaged crops in Russia, Kazakhstan and the Ukraine.

Russia is banning wheat exports until the end of the year. But the Ukrainian government decided there isn’t a need to limit its exports now.

Other commodities are mixed after disappointing reports about durable goods orders and housing sales suggested that the economic recovery is weakening