Wheat Rises as Low Temperatures in Europe May Harm Winter Crops
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Wheat rose in Chicago, heading for a second monthly gain, on speculation cold weather in Europe will hurt winter crops that lack protective snow cover. Corn and soybeans climbed.
Temperatures tomorrow may fall as low as minus 15 degrees Fahrenheit in Ukraine, Joel Burgio, a senior meteorologist at Telvent DTN, said in a report yesterday. That may damage plants that aren’t covered by snow. Prices also advanced as a Russian official said the country’s government will consider taxing grain exports.