Wheat Falls; Rain Heads to Drought-Stricken Kansas

Wheat futures are ending lower as forecasters call for rain to come to drought-stricken Kansas. Crude oil is closing at its highest level in four months.

Wheat for March delivery settled down 12 cents to $7.7925 a bushel Tuesday.

Mike Zuzolo, president of Global Commodity Analytics and Consulting, said the rain would be "very welcome" to producers in the southern part of Kansas and Oklahoma still being affected by extreme drought.

Soybeans rose on forecasts for dry weather in southern Brazil and Argentina, which are major producers of the bean. The March contract rose 22.5 cents to $14.5175 a bushel.

Crude oil rose 68 cents to $96.24 a barrel on the New York Mercantile Exchange. Oil has risen nearly $3 a barrel over the last four days.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2208678, ~/Articles/ArticleHandler.aspx, 8/27/2014 7:02:39 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement