Tuesday, July 31, 2007

Wheat Falls as Harvest Pace Increases in U.S. Great Plains, Adds to Supply

(Bloomberg) -- Wheat fell for a second-straight day
in Chicago as the U.S. winter-crop harvest in the southern Great
Plains neared completion and farmers to the north sped up
spring-crop cutting, increasing supplies.

About 88 percent of the winter crop was harvested as of
July 29, up from 81 percent a week earlier, the U.S. Department
of Agriculture said in a report yesterday. Ten percent of the
spring crop was collected compared with 2 percent the previous
week, the USDA said. Growers probably will sell wheat to make
room for corn, which will be collected starting in late August.


Read more at Bloomberg Commodities News

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