Friday, June 22, 2007

Wheat Falls From 11-Year High as Drier Weather May Speed U.S. Harvesting

(Bloomberg) -- Wheat fell in Chicago and Kansas
City, heading for the first weekly decline since mid-May, on
speculation drier weather will allow farmers in the Great
Plains to accelerate the harvest of the U.S. winter crop.

Wheat reached an 11-year high this week after heavy rains
delayed the harvest and threatened to spread fungal disease.
The harvest should speed up, with only light showers and above-
normal temperatures expected next week, according to
Meteorlogix LLC. Drier weather will also benefit spring crops
in the northern Plains and in Canada, the forecaster said.


Read more at Bloomberg Commodities News

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