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Print Print edition: 2012-02-02

US MIDDAY: wheat jumps

Published Updated

US wheat surged nearly 2 percent to a 4-1/2 month peak on Wednesday, a second straight daily advance, as a cold snap hit Europe, threatening the winter wheat crop, and Russia looked likely to curb exports.
Corn and soyabeans also rose for the second straight trading session, buoyed along with wheat by a weak dollar, stronger-than-expected economic data from China and Germany and optimism that Greece's debt crisis will be resolved.
Corn rose more than 1 percent to a three-week peak. Soyabeans also gained more than 1 percent amid firm US cash soya and news China, the world's largest soya importer, bought a couple cargoes of US soyabeans.
At 9:50 am CST (1550 GMT), CBOT March wheat was up 10-1/4 cents per bushel at $6.76-1/4, March corn was up 6-1/4 at $6.45-1/4 and March soyabeans were up 14-3/4 at $12.13-3/4.

Copyright Reuters, 2012

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