Wheat prices rise on supply worries; Oil higher
Wheat futures are higher as traders worry about tight supplies. Crude oil is ending above $100 a barrel for the first time this year, and the price of natural gas is lower.
The actively traded March contract for wheat rose 7.25 cents, or 1.3 percent, to $5.848 a bushel Monday.
Wheat rose after the U.S. Department of Agriculture increased its export estimate for the crop and traders anticipated that Canada would have difficulty bringing its grain to market because of a rail car shortage, says Todd Hultman, a grain analyst at DTN in Omaha, Neb.
Corn and soybean futures ended slightly lower.
Gold rose $11.80 to $1,274.70 an ounce.
Benchmark U.S. crude for March gained 18 cents to close at $100.06 a barrel on the New York Mercantile Exchange.