Dry Weather Sparks Rally in KC Wheat Futures
Apr 18, 2011
Kansas City wheat futures traded sharply higher today, supported by dry weather in the forecast for U.S. HRW wheat areas and Western Europe, according to traders.
The forecast has turned drier for the U.S. HRW wheat belt this week compared to expectations as of last Friday, traders said.
Dry weather is also in the forecast for France.
Russia may not lift its export ban by July and could continue restrictions beyond that time period, traders said.
Selling interest dried up and nearby months rallied.
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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