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This is an existing problem with evernote. There is a workaround for this problem. :-
Paste the text to a Notepad window. Then select all and copy from the note pad window. Normally paste it to EverNote.
If it does not gives you the word wrap just type some text and check weather it is word wrapping text when you type there.
Please let me know how this goes for you.
No, This is the only option we have to do word wrap in Evernote.
Do you have any other questions on it.