Wheat prices rise as weather threatens crop production

Wheat futures rose as high as $8.045 a bushel Monday before settling down 9.5 cents to close at $7.9175 as adverse weather jeopardizes winter crops in the U.S. and western Europe, and wet, cold conditions threaten spring planting in North America.

A dry winter in Colorado and spotty germination last fall are taking their toll on the winter-wheat crop. According to the Colorado Wheat website, 80 percent of the crop was rated very poor to fair in its Monday report. At the same point last year, 16 percent of acreage fell in the same categories.

(Source: http://www.denverpost.com/business/ci_17978290)