CBOT wheat rallies to near four-year high

18 Jul, 2012

* The benchmark CBOT wheat contract, which hit its highest level since August 2008 on Wednesday, has risen 13.6 percent during the six session winning streak.

* Concerns about damage to the wheat crop in key growing areas of the Black Sea region also contributed to the strength in US wheat futures.

* Analysts expecting weekly US Agriculture Department report on Thursday morning to show export sales of wheat in range from 350,000 to 500,000 tonnes, up from 311,700 tonnes a week earlier.

* Spot basis bids for hard red winter wheat in the US Plains mostly steady on Wednesday. Farmer selling was slow.

* Tunisia's state grains agency tendered to buy 125,000 tonnes of soft milling wheat, European traders said.

COPYRIGHT REUTERS, 2012

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