Wheat Hits 3-Month High
Short-covering, cold weather in parts of U.S. grain belt
Chicago wheat futures rose for a second session on Thursday to hit a three-month high, with short-covering by funds and cold weather in the U.S. grain belt underpinning the market, Reuters reports.
Soybeans edged higher for the first time in three sessions, although gains were checked as traders waited for more clarity on U.S.-China trade negotiations.
There is additional support for wheat stemming from news that Egypt bought 405,000 tonnes of Russian, French and Ukrainian wheat, at higher prices than what it paid at its last international tender on Oct. 8.