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Wheat rises ahead of closely watched report

Published on NewsOK Modified: June 27, 2014 at 2:44 pm •  Published: June 27, 2014

Wheat prices were rising to their highest level in two weeks as traders prepared for the release of a closely watched U.S. crop report Monday.

September wheat rose nine cents, or 1.5 percent, to $5.94 a bushel on Friday. That's the highest price since June 10.

The Department of Agriculture will release its monthly grain stocks report on Monday. The report is expected to show wheat stocks declined in June as well as a modest decline in the amount of acres of wheat being grown in the U.S.

Corn rose 1 percent to $4.46 a bushel and soybeans fell 1 percent to $12.28 a bushel ahead of the report.

In other commodities, oil fell 10 cents to $105.74 a barrel. Gold rose $3 to $1,320 an ounce.