Grain futures edged higher during early U.S. morning trading hours today, June 18, as investors continued to focus on U.S. weather conditions and crop prospects. Concerns that rains in parts of America, the world’s largest wheat exporter, will further delay harvesting that is already lagging behind last year’s pace, pushed up the wheat price for the first time in three days.
The US Department of Agriculture's (USDA) weekly crop progress figures published yesterday revealed that domestic farmers had harvested just 11 percent of their winter wheat crop as of Sunday, June 16, well behind the 25 percent typically collected by this time of the year and below the 51 percent recorded a year earlier.
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