CHICAGO: Chicago Board of Trade wheat futures were called to open 1 cent per bushel higher on Monday on some light bargain buying following the market's 3.1 percent decline last week. Gains were expected to be limited by a firm dollar, which lowers demand for US commodities.
CBOT wheat was up 1/2 cent to 1-1/2 cents per bushel during overnight Globex Trading. Kansas City Board of Trade hard red winter wheat was down 2-1/4 to 3 cents and MGEX spring wheat was up 2-1/4 to 3 cents during the overnight trading session.
CBOT wheat was seen gaining on KCBT futures on Monday morning due to light export demand for high-protein US wheat. Traders reported some demand for soft red winter wheat to Mexico late last week.
Algeria tendered to buy 50,000 tonnes of optional origin milling wheat for January shipment traders.
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