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Wheat, Corn Climbs on Bargain-Buying

US wheat and corn futures traded higher on Wednesday.

Analysts said that the wheat’s technical bounce a day after the spot July contract neared a two-week low, and worries on dry weather in the Black Sea crop region pushed the futures to rise.

Corn advanced from its two-month low, while soybeans closed mixed as nearby contracts lost ground in previous months.

Chicago Board of Trade(CBOT) for July…

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US Wheat Futures Rise, Yield Potential down vs. Year Ago

Wheat futures in the US jumped to its two-month high. The hard-red winter wheat crop’s total shortfall resulted from inadequate rain and warmer temperatures in Northern Kansas.

Also, a mix of technical buying on May’s first days and worries about crop prospects in the breadbasket of the southern Plains affected the price jump.

Kansas is the second largest, behind Russia, wheat producer and…

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