Morning News: Idaho’s Wheat Production Forecast Drops, Hecla Mining Buys Part Of Canadian Company

Rise in US home sales reflects steady improvement – “Americans bought more homes in July than in June, the latest evidence that the housing market is slowly, but steadily, improving. Sales of previously occupied homes rose to a seasonally adjusted annual rate of 4.47 million in July, a 2.3 percent increase from the previous month’s rate, the National Association of Realtors said Wednesday.” Associated Press

Drought lowers Idaho wheat production forecast – “Spring wheat production in Idaho is forecast to be down 36 percent this year as hot, dry weather in the southern part of the state has taken its toll on grain fields. While a reduction in total wheat acres this year is responsible for some of the forecast reduction, severe drought conditions have had a major impact on dryland wheat fields in east Idaho. “ Capital Press

Hecla makes $3.2M investment – “Hecla Mining Co. announced Tuesday it agreed to acquire 20 percent ownership interest of British Columbia-based Dolly Varden Silver Corp. Hecla, of Coeur d’Alene, will pay 16 cents per share, on 20 million common shares, and Dolly Varden will receive total gross proceeds of $3.2 million.” Coeur d’Alene Press

Idaho Endowment Distributions Rise To $49 Million – “Idaho’s endowment trusts are due a total of nearly $49 million in fiscal year 2014, about 2.8 percent more than this year, as increased revenue from timber sales helps bolster cash.” Associated Press