Tuesday, June 26, 2007

Wheat Futures Soar as Farmers in Canada Shift Acres to Oilseeds After Rain

(Bloomberg) -- Wheat surged in Chicago and Kansas
City after wet weather prompted farmers in Canada to shift
plantings to oilseeds with shorter growing seasons.

Canadian farmers planted 14.8 million acres of spring
wheat in the four western provinces, the fewest reported since
1970, Statistics Canada said today from Ottawa. Plantings were
down 19 percent from 2006 and below the 16.7 million acres
estimated in a survey published on April 24.


Read more at Bloomberg Commodities News

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