Demand for Wheat Growing

By: Associated Press and WTVY
By: Associated Press and WTVY

Wheat prices are at a low point for the year as U.S. crops are proving to be in better condition than anticipated.

Traders also are concerned that overall demand for commodities may decline if the global economy slows.

Wheat for July delivery fell 13 cents Monday to $6.5925 a bushel. That's down $1 a bushel since June 10.

Prices began to climb when a dry winter brought fears that some of the crop in the Great Plains would be damaged. Yields appear to be better than expected now that the harvest is under way.

Greece's debt crisis is still an overriding concern for the commodities market. Investors worry that demand may be hurt if Greece's financial problems spread to other European countries.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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