Drier Forecast for HRW Wheat Areas
May 16, 2011
Kansas City wheat futures traded higher this morning on weather concerns for HRW wheat areas, with drier conditions in the forecast now compared to last Friday, according to traders.
There is one chance for rain in the latter part of this week, traders said, and it appears to be dry after that. Concerns about too much rain in northern spring wheat areas also brought support to the marketplace.
Dry weather remains a concern in France wheat areas, traders added. After shrugging off outside markets initially, a weaker Dollar by midday became supportive, traders said.
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