Wednesday, June 27, 2007

Wheat Futures Rise to Record as Rains Delay Harvest in U.S. Great Plains

(Bloomberg) -- Wheat futures rose to a record in
Chicago as wet weather in the southern Great Plains delays
harvesting of the U.S. winter crop, threatening yields.

As much as 3 inches (7.6 centimeters) of rain fell in
Oklahoma and Texas, leaving fields too muddy for heavy harvest
machinery. Only about half of the winter crop has been
harvested in the two states, compared with a year ago when most
of the grain had been collected, government data show. Oklahoma
is fourth in winter-wheat production. Texas ranks 14th.


Read more at Bloomberg Commodities News

No comments: