Tags: US | Commodities | Review

Wheat Gains On Questions About Russia's Fall Crop

Monday, 23 Aug 2010 03:55 PM

 

Wheat prices are rising amid concerns about whether Russian farmers will be able to plant a normal fall crop.

Wheat for December delivery rose 13.25 cents Monday to settle at $7.2525 a bushel.

A devastating drought destroyed about a third of Russia's spring wheat crop, prompting the country to ban exports. Although temperatures have fallen recently, the region still needs significant rainfall. The situation means more international buyers will be looking to the United States for wheat.

Metals prices are mixed and energy prices are lower.

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