Wheat Rises on Concern Rain Was Too Late to Prevent Crop Losses

Wheat rose for a second day in Chicago on concern rain in the U.S. and France came too late to reverse crop damage in the two largest exporters amid rising demand for feed substitutes for corn.

Forecast thundershowers were unlikely to help winter wheat from southern Kansas southward recover from drought stress, Telvent DTN Inc. said June 10. France’s crop has suffered irreversible damage from the country’s driest spring in half a century, and rain in past days came too late to restore yields, farm adviser Offre et Demande Agricole said June 10.