By Luzi Ann Javier Jan. 27 (Bloomberg) -- Wheat futures fell for a third day on speculation that importers including Egypt may seek cheaper supplies from the nations around the Black Sea, damping demand for shipments from the U.S., the world’s biggest exporter. Wheat for March delivery fell as much as 0.5 percent to $4.915 a bushel in after-hours electronic trading on the Chicago Board of Trade after closing 0.9 percent lower yesterday. The most-active contract was at $4.93, down 0.2 percent, at 3:04 p.m. in Singapore. Ukraine, the fifth-largest exporter, shipped 3.7 million tons this marketing year, Interfax reported yesterday, citing an official in the agriculture ministry it didn’t identify. Russia, the fourth-largest exporter, may ship as much as 4 million tons in 2010 from 10 million tons of state stockpiles, United Grain Co. Chief Executive Officer Sergei Levin said Jan. 25. The reports that Russia will sell grain from its stockpiles “reiterates that we’ve got large export availability of grains globally,” Michael Pitts, director for commodity sales at National Bank of Australia Ltd., said by phone from Sydney today. “There’s now a rising supply negativity.” Egypt, the world’s largest wheat importer, is seeking optional-origin wheat for shipment between April 1 and April 15 in a tender today, Nomani Nomani, the vice chairman at the General Authority for Supply Commodities, said yesterday. U.S. exporters may not win any big-volume contracts in the Egyptian tender as its supplies remain more expensive than output from countries including Russia, Ukraine and France, Pitts said. The contracts “will most likely go to the Black Sea, or possibly French” suppliers, he said. Brazilian Crops Corn for March delivery was little changed at $3.6275 at 2:59 p.m. in Singapore after closing 1.5 percent lower yesterday. Favorable weather was forecast in the major corn- and soybean-growing areas of Brazil “with no significant heat or dryness indicated,” Telvent DTN Inc. said in a report yesterday. Brazil is the world’s second-largest exporter of corn and soybeans, according to the U.S. Department of Agriculture. The news about the crops in South America has been “relatively good,” Pitts said. Soybeans for March delivery fell as much as 0.5 percent to $9.4275 a bushel before trading at $9.46 at 3:02 p.m. in Singapore. To contact the reporter on this story: Luzi Ann Javier in Singapore at ljavier@bloomberg.net.

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