Tuesday, July 17, 2007

Wheat Advances on U.S. Harvest Delay, Forecast for Smaller Australian Crop

(Bloomberg) -- Wheat futures in Chicago gained for
the first day in four on concern that the U.S. winter harvest
may be delayed, and a forecast for a smaller Australian crop
than the government expects. Corn and soybean futures fell.

The U.S. winter harvest was 70 percent completed as of July
15, compared with 78 percent a year earlier and the previous
five-year average of 73 percent, the U.S. Department of
Agriculture said in a report yesterday after the close of trade.
A week before, the crop was 58 percent finished, the report said.


Read more at Bloomberg Commodities News

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