Tuesday, 17 July 2012 02:03
CHICAGO: Chicago Board of Trade wheat futures surged more than 4 percent on Monday to a 1-1/2 year peak in an explosive weather-focused market where corn and soy prices have soared due to a heat wave and drought in the US Midwest and weather issues in the Black Sea region.
* Wheat prices in western Europe rose sharply on Monday while rapeseed futures in Paris hit an all-time high as weather woes, most notably in the United States and the Black Sea region fuel led buying.
* Private exporters reported the sale of 107,214 tonnes of US wheat to Japan for delivery during the 2012/13 marketing year, the Agriculture Department sale on Monday.
* USDA on Monday said 14.913 million bushels of wheat were inspected for export last week, nearly the same as the 14.942 million the previous week.
* Australian wheat stocks at the end of June were down 14 percent form a month earlier at 14.1 million tonnes, government data showed on Monday, as exports from the world's fourth-biggest shipper picked up pace.
* September was above all key moving averages. The nine-day RSI was at 82.
Copyright Reuters, 2012