US MIDDAY: wheat rises

Chicago Board of Trade wheat futures closed higher Thursday following a rally in corn on USDA's August crop production report, traders said. A 3.86 percent rally in the Dow stock index was also cited. USDA said 2011 US wheat production would total 2.077 billion bushels, below an average of analysts' estimates for 2.079 billion.
USDA pegged 2011/12 wheat ending stocks at 671 million bushels, equal to an average of annalists' estimates. Export sales of US wheat last week totalled 376,100 tonnes, below a range of estimates for 400,000 to 500,000 tonnes.