Global Supplies of Wheat Tighten
US has not confirmed new agricultural sales to China since signing trade deal
U.S. wheat futures edged higher on Thursday as concerns about tightening global supplies pushed prices toward an 18-month high in the previous session, reports Reuters.
The most active wheat futures on the Chicago Board Of Trade were up 0.3% at $5.79-1/4 a bushel by 0137 GMT. In the previous session, it closed 0.7% lower after hitting an Aug. 2, 2018 high of $5.92-1/2 a bushel.
Traders in the farm markets continued to wait for signs of increased demand from China after Beijing pledged to increase imports of U.S. agricultural products in an initial trade deal the countries signed last week.
The United States has not confirmed new agricultural sales to China since inking the deal.