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Wheat Trades Near One-Month Low, Natural Gas Rises

January 8, 2015 at 23:19 by Vladimir Vyun

Wheat dropped today as concerns abated that cold weather will hurt US crops. While forecasts predict low temperatures over the next couple of days, it is expected that weather will become warmer later. As a result, prices dropped and the grain traded near the lowest level in a month. March futures for delivery of wheat dropped as much as 2.16 percent to $5.67 per bushel as of 23:11 GMT on CBoT today.

Prospects for warmer weather did not hurt prices for natural gas. Futures rallied as government data showed that US inventories fell more than was expected. The Energy Information Administration reported that US stockpiles of natural gas shrank by 131 billion cubic feet last week, compared to the predicted decrease of 121 billion and the drop of 26 billion in the previous week. February contract for delivery of natural gas climbed 1.95 percent to $2.93 per million British thermal units on NYMEX today.

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One Response to “Wheat Trades Near One-Month Low, Natural Gas Rises”

  1. Rich

    We see a historic historic up move in natural gas futures they can ignite above .50 cents in a day . Natural gas can skyrocket above 9. Huge draw down huge shirt squeeze. It will lead oil and help oil a bit


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