KC wheat jumps on disappointing harvest yields in U.S. Plains

CHICAGO, June 18 (Reuters) – Kansas City hard red winter wheat futures surged on Wednesday on disappointing yield reports from the early harvest in the southern U.S. Plains, including top producer Kansas, traders said.
The Kansas Wheat Commission said in its first harvest report of the season that early yields in far southern Kansas were averaging about 10 to 12 bushels per acre, far below the U.S. Department of Agriculture’s statewide Kansas yield estimate of 29.0 bu. per acre.
At about 11:20 CST hard red winter wheat July futures were up 16 ¾ cents or 2.35 percent while December was up 13 ¼ or 1.84 percent.
Minneapolis and Chicago wheat will also up between one and two percent.

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