Production fears send wheat higher
US wheat futures finish stronger on worries that farmers may replant poor-looking wheat acres in the spring. Winter wheat in the US Plains has struggled due to dryness.
If plants look ragged when they begin growing again in the spring, farmers may plow up the wheat to replant with other crops, traders say.
Stronger futures prices will make it more attractive of them to keep the wheat in the ground, they say. CBOT March wheat ends up 7c at $7.56 3/4 a bushel, KCBT March wheat rises 8 1/2c to $8.11 3/4 a bushel, and MGE March wheat jumps 6 3/4c to $8.42.
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December 17, 2010 14:58 ET (19:58 GMT)
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