- Wheat reached $5.18 3/4 earlier Monday, highest since Feb. 20
- Western U.S. wheat areas to see “very cold” weather during the next wk, while storms bring protective snow cover in south, WeatherBELL Analytics said in report Sunday
- Cold U.S. temperatures are “considered as a supportive sign for wheat,” Arnaud Saulais, broker at SCB Commodity Brokersin Nyon, Switzerland, said in an e-mailed report.
- Prices also supported by concerns about potential winter kill in Russia, said Wayne Gordon, Singapore-based analyst at UBS
- Snow cover “widespread” in Russian growing areas, while “generally patchy” in Ukraine: WeatherBELL
- Milling wheat for May delivery rose 0.1% to EU188/mt on Euronext in Paris
- Corn for May delivery fell 0.3% to $3.92 1/4 a bushel, after rising 6.3% in Feb.
- Soybeans for May delivery added 0.2% to $10.34/bu, after reaching 7-wk high of $10.39; soybean meal for same delivery mo. fell 0.2% to $341.60 for 2,000 lbs
