SCOTTRADE ACCOUNT IT'S TIME. It's time for an easier way to invest. Open a Scottrade Account
Apply Now

Grain futures - Wheat trades at 8-month low on beneficial crop weather

CommoditiesFeb 25, 2013 05:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Investing.com - U.S. grain futures were mixed during European morning hours on Monday, with wheat prices trading at the lowest level since June amid receding concerns over crop conditions in the U.S. Great Plains-region.

On the Chicago Mercantile Exchange, wheat for March delivery traded at USD7.1300 a bushel, down 0.35% on the day.

The March contract slumped by as much as 0.9% earlier to hit a session low of USD7.0850 a bushel, the weakest level since June 25.

Wheat prices continued their downward march after heavy snow fell in major wheat-growing states in the Great Plains-region, such as Kansas and Oklahoma, last week.

Wheat traders have been closely monitoring weather and crop conditions in the area, where prolonged dryness threatens now-dormant winter wheat crops.

Meanwhile, soybeans futures for March delivery traded at USD14.6700 a bushel, up 0.35% on the day.

The March contract fell by as much as 0.6% earlier in the session to hit a daily low of USD14.5300 a bushel, the cheapest level since February 19.

Soy prices turned higher amid speculation a disruption to supplies from major South American growers Argentina and Brazil will lead to improved demand for U.S. soybeans.

Elsewhere, corn futures for March delivery traded at USD6.9325 a bushel, up 0.1% on the day. The March contract fell by as much as 0.35% earlier in the day to hit a session low of USD6.8725 a bushel, the lowest level since February 13.

Corn’s gains were limited amid a weak technical picture after prices broke below the key psychological USD7.00-a-bushel level last week.

Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.

Grain futures - Wheat trades at 8-month low on beneficial crop weather

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.