Friday, June 1, 2007

Wheat Futures Extend Rally to One-Month Highs as Rains Threaten U.S. Crops

(Bloomberg) -- Wheat in Chicago and Kansas City rose,
extending rallies to one-month highs, as rains in the southern
Great Plains may delay harvest and damage the U.S. winter crop.

A storm is expected to drop 1.5 inches of rain in parts of
Kansas and Oklahoma which have already received as much as four
times the normal precipitation in the past 30 days, according to
data from the National Weather Service. Wet weather promotes
fungal diseases such as leaf rust, which cuts yields and quality.


Read more at Bloomberg Commodities News

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