Wheat Watch: CBOT Wheat Called Slightly Higher.

Resource News International, November, 2004

Winnipeg, MB, Nov 16, 2004 (Resource News International via COMTEX)

Chicago Board of Trade wheat futures are called 1/2 to 1 US cent per bushel higher at Tuesday's open, with spillover support expected from the firmer calls in soybeans. However, the good US crop weather should limit any advances. CBOT wheat futures were 1 to 1 1/4 US cents higher in overnight electronic trade.

The US winter wheat crop was rated at 78% good to excellent by the USDA late Monday. The condition ratings were on par with the previous week, but well above the year ago level of 48% good to excellent.

The US winter wheat crop was 93% planted as of Nov. 14, which compares to 97% at the same point a year ago. Emergence was pegged at 87%, matching the 2003 level.

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