By Tony C. Dreibus Nov. 13 (Bloomberg) -- Wheat rose for the fifth straight day on speculation that more of the U.S. crop will be used to feed livestock after the price of corn gained 22 percent in the past two months. About 190 million metric tons of the grain will be used as animal feed in the marketing year that ends on May 31, the U.S. Department of Agriculture said in a report on Nov. 10. That estimate may rise as corn futures gain, making wheat more attractive as a feed source. “The feed outlook has a different complexion than a couple months ago when we thought we were going to have $3 corn,” said Jason Britt, the president of Central States Commodities Inc. in Kansas City, Missouri. “The figures are being recalculated and they’re putting more wheat in the equation.” Wheat futures for March delivery rose 7.5 cents, or 1.4 percent, to $5.5975 a bushel on the Chicago Board of Trade. The contract rose 13 percent this week, partly on expectations for improved demand. The five-day rally was the longest since Jan. 6. The commodity has gained 20 percent in the past two months. Wheat is the fourth-biggest U.S. crop, valued at $16.6 billion in 2008, behind corn, soybeans and hay, government data show. The U.S. is the world’s largest wheat exporter. To contact the reporter on this story: Tony C. Dreibus in Chicago at Tdreibus@bloomberg.net.

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