US wheat futures extended gains to fresh seven-month highs on Friday as investors covered short positions following a US Department of Agriculture report on Thursday that forecast smaller-than-expected US and global supplies, traders said. K.C. hard red winter wheat futures notched the biggest gains, rising 1.8 percent compared to a nearly 1 percent hike in Chicago Board of Trade soft red winter wheat and 0.4 percent rise in MGEX spring wheat.
Most active CBOT wheat rose to the highest levels since June 28 in the fourth straight session of gains. Wheat for the week climbed 4 percent for the best weekly performance since October.
Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017