(Bloomberg) -- Chicago wheat futures rose to a seven-week high on concern about freeze damage to the wheat crop in the U.S., the world's biggest exporter, and strong physical buying from Asia and Africa. Corn and soybean prices also gained.
About 55 percent of the U.S. winter-wheat crop was rated good or excellent as of April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said this week. Temperatures fell into the upper teens from Kansas to Ohio on April 7. Plants can be damaged if temperatures fall below 24 degrees Fahrenheit (minus 2 Celsius) for more than two hours.
Read more at Bloomberg Commodities News
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