As the globe's largest shipper of the grain, the U.S. is poised to continue being in receipt of sizable demand. Northwest Kansas and Southwest Nebraska endured below-zero temperatures this past weekend, according to Commodity Weather Group. The cold weather is projected to continue during the next 15 days.
"U.S. winter-wheat area was hit with ice and extremely cold temperatures over the weekend," states a Monday online market comment authored by president Paul Georgy with broker Allendale Inc., according to Bloomberg. "Traders are talking about potential winter kill, but we will not see the true effect until spring."
At 9:58 a.m. on Monday, wheat futures advanced 0.5 percent, a 0.0325-cent gain to $6.5425 per bushel.
Reuters reports Monday's gains for the agricultural commodity marked the first advance in four days. The grain had scraped its lowest value in about 90 days during the previous trading session as the calendar inches closer to the winter season.
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