Cold weather, Ukraine tensions push wheat higher
Cold weather in U.S. growing areas and more worries about disruptions to exports from Ukraine sent the price of wheat sharply higher.
May wheat jumped 19 cents to $6.79 a bushel Monday. Wheat has been rising sharply in recent weeks and is up 12 percent so far this year.
Traders are worried about the effect cold weather in the U.S., particularly around Kansas and Oklahoma, could have on the wheat crop as it is emerging from winter dormancy.
The threat of wheat exports from Ukraine being interrupted because of the ongoing tensions there also got traders concerned that supplies for the grain could be tighter in the coming months, sending prices for U.S. wheat higher.
Corn and soybean futures also rose.
Metals prices rose slightly. Energy prices mostly rose.