(Bloomberg) -- Wheat futures fell from an 11-year
high on speculation that rain in growing regions of Australia and
Ukraine will help alleviate drought and boost world production.
Rains in parts of Queensland and northern New South Wales
will help soil moisture and improve crop prospects, according to
Woburn, Massachusetts-based Meteorlogix LLC. Rain was also
expected in Ukraine, the forecaster said. Futures rose this week
to the highest price since 1996 as excessive rains in the U.S.
and drought in Australia and Ukraine damaged plants.
Read more at Bloomberg Commodities News
high on speculation that rain in growing regions of Australia and
Ukraine will help alleviate drought and boost world production.
Rains in parts of Queensland and northern New South Wales
will help soil moisture and improve crop prospects, according to
Woburn, Massachusetts-based Meteorlogix LLC. Rain was also
expected in Ukraine, the forecaster said. Futures rose this week
to the highest price since 1996 as excessive rains in the U.S.
and drought in Australia and Ukraine damaged plants.
Read more at Bloomberg Commodities News
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