Wheat Rises for Third Day as Dryness May Reduce U.S. Seeding
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Wheat rose for a third day in Chicago on speculation hot, dry weather in the U.S. Plains may curb seeding of winter varieties and on concern adverse weather in Russia and Ukraine might hurt crops.
Dry weather in the U.S. cut soil moisture for winter-wheat areas of the southern Plains this week, Telvent DTN Inc. said in a forecast yesterday. A dry spell in Russia is threatening spring wheat, corn and sunflowers in the Volga Valley, where the worst drought in 50 years caused crop losses in 2010, the forecaster said.