Wheat Rises Most in Two Weeks on Animal-Feed Demand
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Wheat futures rose the most in two weeks on indications that U.S. livestock are feeding on more of the grain. Corn advanced, ending the longest slump in 47 years, and soybeans gained.
Yesterday, wheat at terminals in Kansas City sold at a premium of 5 cents a bushel versus corn, down from 9 cents a day earlier, U.S. Department of Agriculture data show. In the southern Great Plains, wheat is added to animal feed when the premium narrows because the grain has a higher content of protein. The government on Feb. 8 forecast that 375 million bushels will be fed to livestock in 2013, more than double the prior year.