Wednesday 11 July 2012
The wheat market
Wheat prices rose Wednesday as the hot, dry summer continued to take its toll on crops in the U.S. and Russia.
Wheat for delivery in September gained 42.5 cents to settle at $7.5125 per bushel, the highest closing price since last September. Corn also rose.
Global supplies of wheat remain plentiful, but traders are concerned that the heat wave may cause crops to deteriorate in the Midwest and parts of Russia and Kazakhstan.
Source: Argentine Beef Packers S.A.
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