Friday, June 1, 2007

Wheat Futures Rise to 6-Week High in Kansas City After Rain Delays Harvest

(Bloomberg) -- Wheat futures in Kansas City closed at
a six-week high as rains in the southern Great Plains delay the
harvest and damage the U.S. winter crop.

A storm may drop 1.5 inches (3.8 centimeters) of rain in
parts of Kansas and Oklahoma where four times the normal amount
of precipitation has fallen in the past 30 days, according to
National Weather Service data. Wet weather may cause fungal
diseases such as leaf rust, which cuts yields and grain quality.


Read more at Bloomberg Commodities News

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