Spring Wheat Futures Lead Wheat Markets Higher
Aug 17, 2011
Kansas City wheat futures traded higher again today, taking lead from Minneapolis spring wheat futures that continue to gain ground on KC wheat prices, traders said.
MGE Sep wheat was 21 cents higher at $9.17 1/4 midday, while KC Sep was up 8 1/2 cents at $8.26. The MGE Sep/Dec spread was also inverted at 10 1/4 cents at midday.
Talk of disappointing spring wheat yields due to delayed planting and wet weather earlier in the season is now being supplemented by harvest delays due to rainfall, traders said.
Rainfall in Eastern Australia is benefitting the dry wheat crop that has been dry, traders added.
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