Wheat Futures Options Trading
CALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741
|
|
Wheat Futures Options TradingCALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741 |
Wheat Futures: Wheat Rises as U.S. Growers Hold Grain in Bet on Price Rally March 3rd, 2010Wheat futures rose, heading for the first gain in three sessions, on speculation that U.S. growers are limiting sales in a bet that an end to the dollar’s rally will revive demand for the grain. The price slumped 6.8 percent this year, before today, on concern that global supplies are rising faster than demand. U.S. farmers are hoping for a rebound after they planted the fewest acres of winter wheat in 97 years. The dollar fell as much as 0.6 percent today against an index of six major currencies, after slipping 0.4 percent in the previous five sessions. “Farmers are holding onto a ton of wheat, and they can afford to right now,” said Darrell Holaday, the president of Advanced Market Concepts in Manhattan, Kansas. “The dollar may sit back a little. It’s stagnated after a strong run.” Wheat futures for May delivery rose 4.25 cents, or 0.8 percent, to $5.0875 a bushel at 10:09 a.m. on the Chicago Board of Trade. Before today, the most-active contract was little changed from a year earlier. Wheat is the fourth-biggest U.S. crop, valued at $10.6 billion in 2009, behind corn, soybeans and hay, government data show. - Tony C. Dreibus in Chicago at Bloomberg. Click here for your Free Wheat Futures Trading eGuide |
|
 |