Wheat Futures Rise Amid Argentine Locust Alert and Stock Weakness
Wheat futures showed limited gains despite overall stock market weakness as reports of locust swarms invading 100 square miles across Sagty Fe Cardote and San Hago provinces threatened crops. Subsoil moisture complaints linger in U S and Canadian wheat districts while corn and oats benefited from tight receipts. Livestock markets in Chicago and Kansas City showed mixed to weaker tones with cattle, calves, and sheep trading unevenly as buyers stayed cautious amid ample supply.
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