date:May 22, 2012
cerns remained about dryness in Russia and dry, hot weather forecast in coming days for the southern U.S. Plains. I think that is enough to keep the stress in place on the crops and warrant higher a weather premium for futures, said Brian Hoops, president of brokerage Midwest Market Solutions.
Increased global export business reflected by the announced purchase of 100,000 metric tons of U.S. wheat by Iraq provided price support as well.
CBOT July wheat ended 8 3/4 cents higher at $7.04 a bushe