Grains prices rise amid speculation that wet weather could slow spring planting
By APWednesday, March 17, 2010
Grains prices rise on speculation about wet spring
DENVER — DENVER (AP) — Grain prices have risen amid speculation that wet, cooler weather could slow spring planting.
Commodity prices rose across the board Wednesday as the dollar slid against other currencies and the stock market rose, which set a positive tone.
It was a wetter-than-normal winter for much of the Midwest, and cooler weather already has hampered planting in some states. In addition, a government report predicts major spring flooding from North Dakota and Minnesota to Iowa.
Although it may be a little early to factor weather into the commodities equation, Northstar Commodity analyst Mark Schultz says the market may be trying to anticipate that poor weather conditions could impact this year’s crops.
