Unusual weather patterns this winter have left much of the wheat in Ukraine without any snow covering, which generally serves to protect the plants when the coldest parts of winter set in. Now Ukraine is expecting a cold front that could bring temperatures down to as low as negative 15 degrees Fahrenheit.
"Any winter wheat not adequately protected by snow cover could be at risk of winterkill in areas where the lows reach minus 10 degrees Fahrenheit or colder," Joel Burgio, senior meteorologist at Telvent DTN, said in a report.
In response, wheat for March delivery on the Chicago Board of Trade had risen 2.99 percent by 1:59 p.m., a 19.25 cent rise to $6.64 per bushel. Meanwhile, wheat on the Kansas City Board of Trade rose 17.5 cents, a 2.51 percent climb to $7.15 per bushel.
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