Greater London, England -- (SBWire) -- 04/15/2011 -- City Index (http://www.cityindex.co.uk/) takes a look at the activity shaping the spread betting markets on 6th April 2011.
Wet weather in the northern US states and dry conditions in the southern plains look set to have hindered the production of wheat, potentially sending prices higher during commodities trading in Chicago for a second day.
Such is the suggestion of Bloomberg, which noted that concerns have been raised following the publication of a report from the US Department of Agriculture.
It noted that "major flooding" could occur as snow in the north - where spring wheat is sown - melts.
As of 13:14 BST in London today (April 5th), traders saw wheat for May delivery rise on the Chicago Board of Trade by 0.1 per cent to hit $7.9075 (£4.87) a bushel, the news resource stated.
At one point during commodities trading, wheat prices brushed $7.9825.
Meanwhile, oil for delivery in May fell by as much as 97 cents a barrel on the New York Mercantile Exchange as of 12:45 BST in London as investors worried that demand in China and the US - where there is expected to be growing inventories - will slow, Bloomberg reported.
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Wheat Pices 'could rise' Following Concerns About Weather Patterns – City Index Market Update