Wheat Advances a Third Day as Cold Weather Threatens U.S. Supply
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Wheat rose for a third day in Chicago, set for the longest winning streak since November, as cold weather in the U.S. added to concerns over global supply already cut by higher feed use. Soybeans dropped.
Temperatures in parts of the wheat belt in the U.S., the world’s largest exporter of the grain, will turn lower over the next week, especially in northern and eastern areas, DTN said in a forecast yesterday. The winter-wheat crop, dormant since November, was already in the worst shape since record-keeping began in 1985.