Wheat Futures Rise as Drought in Canada May Increase Demand For U.S. Grain

(Bloomberg) -- Wheat rose the most in more than a
week in Chicago as drought in Canada and other exporting
countries boosts demand for U.S. supplies.

U.S. wheat exporters last month had their two best-selling
weeks since 1996, Department of Agriculture data show. Canada
will produce 16 percent less wheat this year, partly because of
drought in western growing regions, the Canadian Wheat Board
said yesterday.


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Corn, Soybeans May Rise as Condition of U.S. Crops Decline; Wheat May Fall

(Bloomberg) -- Corn and soybeans may rise in Chicago
after a government report said warm, dry weather caused U.S.
crops to deteriorate for the fourth straight week. Wheat may fall
as harvesting speeds up, increasing supplies.

An estimated 58 percent of the corn crop was in good or
excellent condition as of July 29, down from 62 percent a week
earlier, the U.S. Department of Agriculture said yesterday. About
58 percent of soybeans got the top ratings as of July 29, down
from 61 percent a week earlier.


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Wheat Futures Decline as Spring Harvest Gets Under Way in Northern Plains

(Bloomberg) -- Wheat fell the most in two weeks in
Chicago as U.S. farmers begin harvesting a spring crop that may
yield more bushels than normal.

About 2 percent of spring wheat, grown mostly in the
northern Great Plains including North Dakota and Minnesota, was
harvested as of July 22. The government will update that figure
today. Some fields may yield as much as 95 bushels an acre, or
almost three times the five-year average, said Vince Boddicker,
manager of Farmers Trading Co. in Mitchell, South Dakota.


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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.


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Wheat Falls Most in Five Months in Kansas City on Forecast of Dry Weather

(Bloomberg) -- Wheat futures fell the most in five
months in Kansas City and the most in two months in Chicago on
forecasts of dry weather in the southern Great Plains that may
allow U.S. farmers to speed up a harvest delayed by heavy rains.

Fields from Texas to Nebraska are in for above-average
temperatures and below-normal rainfall for the next 10 days,
which will help improve prospects for the mature hard-red winter
crop, according to Meteorlogix LLC, a Woburn, Massachusetts-based
private forecaster.


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Wheat Rises to 11-Year High, Extending Rally, as Rains Damage U.S. Crops

(Bloomberg) -- Wheat surged to 11-year highs in
Kansas City and Chicago, extending weeklong rallies, as
unusually heavy rains delay the U.S. harvest and damage fields
in the southern Great Plains.

As much as 1 inch of rain fell in parts of the southern
Plains in the past 24 hours, delaying wheat harvesting and
increasing losses. About 5 percent of the crop was collected as
of June 10, less than the five-year average of 10 percent, after
some fields received as much as three times the normal rain the
past 30 days, data from the Department of Agriculture show.


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Wheat Rises, Extending Rally, as Rains Damage Crops, Delay Harvest in U.S.

(Bloomberg) -- Wheat rose to an 11-year high in
Kansas City, extending a weeklong rally, as unusually heavy
rains delay the U.S. harvest and damage fields in the southern
Great Plains.

As much as 1 inch of rain fell in parts of the southern
Plains in the past 24 hours, delaying wheat harvesting and
increasing losses. About 5 percent of the crop was collected as
of June 10, less than the five-year average of 10 percent, after
some fields received as much as three times the normal rain the
past 30 days, data from the Department of Agriculture show.


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Corn, Soybeans Decline in Chicago on Crop Ratings; Wheat at 11-Year High

(Bloomberg) -- Corn and soybean futures in Chicago
fell after a government report showed U.S. crop ratings were
better than expected. Wheat rose to an 11-year high, extending
gains after the U.S. government cut its production estimate.

About 77 percent of the corn crop was rated good or
excellent on June 10, compared with 78 percent the previous week
and 70 percent a year earlier, the U.S. Department of
Agriculture said yesterday in a report. About 70 percent of the
soybean crop was rated good or excellent on June 10, compared
with 71 percent last week and 67 percent a year earlier.


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Wheat Rallies as Rains May Reduce Yields in Oklahoma More Than Expected

(Bloomberg) -- Wheat futures rose in Chicago and
Kansas City on reports of lower-than-expected yields in Oklahoma,
where fields have been inundated with heavy rains.

Parts of the state, the second-biggest producer of winter
wheat, have received four times the normal rainfall in the past
month, according to National Weather Service data. Fungal
diseases that can reduce yields, including leaf rust and powdery
mildew, thrive in warm, moist conditions.


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Wheat Rises to One-Month High as Rain Slows U.S. Harvest, Promotes Disease

(Bloomberg) -- Wheat in Chicago and Kansas City rose
to the highest in a month as wet weather in the U.S. southern
Great Plains slowed the harvest and damaged the winter crop.

Some fields from Texas to Kansas may receive as much as
three times the normal moisture in the next five days, T-Storm
Weather said. As much as four times the normal rain fell in the
region in the past 30 days, according to data from the National
Weather Service. Wet, warm weather promotes fungal diseases such
as leaf rust, reducing both yields and quality.


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