The Joplin Globe, Joplin, MO

Business

January 22, 2013

Wheat falls; rain heads to drought-stricken Kansas

NEW YORK — Wheat futures are ending lower as forecasters call for rain to come to drought-stricken Kansas. Crude oil is closing at its highest level in four months.

Wheat for March delivery settled down 12 cents to $7.7925 a bushel Tuesday.

Mike Zuzolo, president of Global Commodity Analytics and Consulting, said the rain would be “very welcome” to producers in the southern part of Kansas and Oklahoma still being affected by extreme drought.

Soybeans rose on forecasts for dry weather in southern Brazil and Argentina, which are major producers of the bean. The March contract rose 22.5 cents to $14.5175 a bushel.

Crude oil rose 68 cents to $96.24 a barrel on the New York Mercantile Exchange. Oil has risen nearly $3 a barrel over the last four days.

 

1
Text Only
Business
Poll

Would you use a community safe room when the area is under a tornado warning?

Yes.
No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case Author Gabriel Garcia Marquez Dead at 87 Beau Biden Plans 2016 Run for Del. Governor Chelsea Clinton Is Pregnant Horseless Carriage Introduced at NY Auto Show Obama Hopeful on Ukraine, Will Watch Russians Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing