Wheat falls on rising world crop outlook

Wheat fell, halting the longest rally since July, on speculation that a rebound in global output will reduce demand for supplies from the US, the biggest shipper.

Corn and soybeans were little changed. Soft-wheat production in the European Union may rise 2.6% to 127.77 million tonne, the Brussels-based grain- industry lobby Coceral said on Friday. SovEcon raised its Russian grain-crop forecast to 84 million to 89 million tonne from 80 million to 87 million tonne last month and up from 70.9 million tonne a year ago.