Wheat futures at the Chicago Board of Trade were higher at mid-session on Thursday on buying by funds and spillover strength from CBOT soybeans, traders said. Buying by locals sparked a run-up to the day's highs around 11:00 am CST (1700 GMT). "Locals started it, and we're hitting small stops," one trader said.
As of 11:15 am CST (1715 GMT), CBOT May wheat was up 7 cents at $3.40-1/2 per bushel after peaking at $3.41-1/2. Deferred months were up 4 to 5 cents. Buy-stops were hit in May above $3.38-1/2, traders said.
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