Wheat futures edge up due to adverse weather
March 14, 2018 00:00:00
SYDNEY, Mar 13 (Reuters): US wheat futures edged higher on Tuesday as the U.S. Department of Agriculture said production in a key growing region was hit by adverse weather last week.
Corn edged higher, extending gains into a second session, while soybeans firmed despite fears about potential curbs in Chinese demand for U.S. supplies.
The most active wheat futures on the Chicago Board Of Trade were up 0.4 per cent at $4.92-1/2 a bushel by 0426 GMT, having closed up 0.3 per cent on Monday.
Analysts said wheat was drawing support from confirmation of further damage to crops across a major producing region.
"Winter kill due to a lack of snow cover and a lack of moisture have damaged crops again. This is supportive to prices," said Angus Thornton, analyst at Profarmer.