Global commodity prices, including those for wheat, stumbled this week as investors shift funds into safe havens such as gold.

CBOT's agricultural futures are down across the board, with corn and soy finishing limit down.

According to CBOT's daily market wrap, Commodity News for Tomorrow, traders have been spooked by outside events on the broader financial markets.

According to CBOT, December '08 corn closed US$0.30 per bushel down; November '08 soy lost US$0.70/bushels and December '08 wheat lost US$0.45/bushel.

According to traders, many wheat farmers around the world increased their planting to try and take advantage of the high wheat prices last year and this factor is weighing heavily on US wheat futures.

International wheat prices continue to decline as the Black Sea and Europe compete to attract export wheat sales.