Wheat Futures December Rose

Wheat futures for December 2012 delivery rose 0.5 percent to settle at $8.725 a bushel at 2 p.m. on the Chicago Board of Trade. The price has gained 34 percent this year and rose 1.8 percent this week. Wheat futures climbed for a third day on signs that Ukraine will limit exports, and on speculation that dry weather in the southern U.S. Great Plains will curb production. Corn advanced, while soybeans fell.

Ukraine’s wheat exports will reach 5 million metric tons by Nov. 15, Volodymyr Klymenko, the head of the country’s Grain Association, said today. That may prompt the government to introduce shipment limits, he said. Parts of Kansas, the biggest U.S. producer of winter varieties, have received little rain in the past month, National Weather Service data show.