Crop Conditions Deteriorate
Apr 26, 2011
Kansas City wheat futures traded higher this morning on declining U.S. HRW wheat conditions and delayed corn plantings, according to traders.
The market was lower overnight on news that China plans to raise interest rates in further attempts to curb inflation, traders said. The news weighed on commodity markets.
USDA crop progress reports yesterday indicated further declines in the Texas, Oklahoma, and Kansas HRW wheat crop.
Corn planting is now estimated at 9% complete compared to 7% a week ago. Spring wheat planting is also behind schedule, traders said.
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