U.S. Dollar Trades Lower
Jun 21, 2011
Kansas City wheat futures traded stronger today, supported by strength in the U.S. Dollar and hot, dry weather in the Corn Belt, traders said.
Concerns about the weather in corn areas are based on hot, dry conditions going into the time period of June 28 through July 3.
Ideas that the market has been recently oversold also led to the bounce today, traders added.
While rains have caused some delays in the HRW wheat harvest, they will clear out soon and harvest will resume and continue to progress northward, traders said.
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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