Wheat Trades Higher as Selling Dries Up
Oct 05, 2010
Kansas City wheat futures traded better today, finding support from outside markets and dried up selling interest, traders said.
The U.S. Dollar was weaker today, and crude oil and gold futures were both trading stronger, carrying over into wheat futures, traders added.
After being hit hard in recent sessions off of highs, selling interest has decreased allowing prices to move off of lows today, traders said.
Winter wheat planting appears to be on average in regards to planting progress, according to yesterday's USDA crop condition reports.
Kansas is behind in plantings due to dry weather, estimated at 45% planted compared to a 53% average at this time of year.
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