KC Wheat Higher on Declining Crop Ratings
Jun 28, 2011
Kansas City wheat futures traded higher today, reversing the recent lower trend in the marketplace, according to traders.
USDA crop ratings released yesterday showed declines in winter wheat conditions, with all winter wheat increasing to 42% poor to very poor from 41% last week.
French milling wheat futures were trading stronger all morning, traders said, carrying over into the U.S. wheat markets today.
Some short-covering activity also boosted wheat prices head of Thursday's USDA acreage reports.
The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.
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