Tuesday, June 5, 2007

Wheat Rises on Report Showing Decline of U.S. Crop Because of Heavy Rain

(Bloomberg) -- Wheat rose in Chicago, continuing a
rally to a five-week high, after a U.S. government report said
the condition of the U.S. winter wheat crop worsened as heavy
rains slowed the harvest and damaged plants.

Some 53 percent of the U.S. winter-wheat crop was in good or
excellent condition as of June 3, compared with 57 percent the
prior week, U.S. Department of Agriculture data show. About
1 percent of the crop was harvested, compared with 7 percent last
year, the USDA said. About six times the normal moisture fell
from Nebraska to Texas in the past 14 days.


Read more at Bloomberg Commodities News

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