US wheat futures rise as corn rallies
CHICAGO: US wheat futures rose Monday, following a sharp rally in the corn market amid renewed concerns about US crop development, traders said.
The US Agriculture Department said weekly wheat export inspections were 16.2 million bushels, below forecasts for 20 million to 25 million.
Iran plans to export 2 million tonnes of wheat - report.
Indonesia, the top Asian wheat importer, bought 20 percent more wheat in June and July and imports are expected to remain higher throughout August- Indonesian Wheat Flour Mills Association.
Northern US Plains seen mostly dry until a few light showers arrive on Wednesday. Temperatures seen near to above normal.
Ukraine's wheat exports were 4.16 million tonnes in 2010/11 - UkrAgroConsult. Ukraine's wheat yield so far this year 3.36 tonnes per hectare vs 2.80 tonnes per hectare a year ago.
Copyright Reuters, 2011
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