(Bloomberg) -- Wheat rose to a three-week high in
Chicago and Kansas City on speculation that heavy rains in
northern Europe will reduce global production, increasing demand
for U.S. supplies.
Egypt, the world's second-biggest importer of the grain,
today said it bought 175,000 metric tons of U.S. wheat after
prices for European supplies rose to a record. Part of northern
Europe will have above-normal rain the next 10 days, said John
Dee, president of Global Weather Monitoring in Mohawk, Michigan.
Read more at Bloomberg Commodities News
Chicago and Kansas City on speculation that heavy rains in
northern Europe will reduce global production, increasing demand
for U.S. supplies.
Egypt, the world's second-biggest importer of the grain,
today said it bought 175,000 metric tons of U.S. wheat after
prices for European supplies rose to a record. Part of northern
Europe will have above-normal rain the next 10 days, said John
Dee, president of Global Weather Monitoring in Mohawk, Michigan.
Read more at Bloomberg Commodities News
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