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CBOT wheat higher in spring wheat contract

CHICAGO : Chicago Board of Trade wheat futures turned higher on Tuesday, following a rally in MGEX spring wheat contra
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By Muhammad Iqbal
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wheatCHICAGO: Chicago Board of Trade wheat futures turned higher on Tuesday, following a rally in MGEX spring wheat contracts due to concerns about this year's crop, traders said.

Forecasts for a return to hot and dry weather in the US Plains could limit the size of this year's spring wheat harvest.

At 10:53 a.m. CDT (1553 GMT), CBOT September soft red winter wheat was up 13-1/2 cents at $7.26 a bushel.

MGEX September spring wheat was up 22-3/4 cents at $8.95-1/2 a bushel and Kansas City Board of Trade September hard red winter wheat was up 9 cents at $8.20 a bushel.

 

Copyright Reuters, 2011

 

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