U.S. wheat futures rose in early trading Monday amid a lower U.S. dollar and concerns about dryness in parts of the nation’s wheat belt. Corn and soybeans slipped.
Wheat prices gained, bolstered by forecasts for drier weather in the first half of April that likely will reduce moisture in the southern Plains, where much of the country’s hard-red winter wheat is grown. Forecasts for higher temperatures also supported prices for the crop, as warm weather could boost stress to the crop in dry regions, according to private weather forecasters, Commodity Weather Group.
Wheat futures for May rose 2 3/4 cents, or 0.6%, to $4.65 3/4 a bushel at the Chicago Board of Trade. The dollar slid 0.3% on Monday according to the WSJ Dollar Index.
CBOT May corn declined 1 1/2 cents, or 0.4%, to $3.68 1/2 a bushel.
CBOT May soybeans shed 1/2 cent, or 0.1%, to $9.10 a bushel.
(Source – http://www.nasdaq.com/article/us-wheat-lifts-amid-weather-worries-corn-slips-20160328-00367)