date:Jan 06, 2013
ch nearby futures contracts were at a premium to deferred months due to expected larger 2013 crops of both, wheat futures prices were at a more typical carry (deferred contracts higher than nearby). Significant drought currently across much of the hard red winter wheat growing region of the Plains states has been the major supporting factor for new crop wheat futures, although it remains to be seen how winter and early spring moisture eventually will impact the crop.
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