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Wheat futures at the Chicago Board of Trade were higher early on Wednesday on another round of fund buying and on gains in soya futures, traders said. Pit sources said the buying by investment funds that began Tuesday continued Wednesday, boosting wheat futures higher despite trader consensus that wheat fundamentals remained bearish. At 10:20 am (1520 GMT), wheat was up 3-1/2 to 4-1/4 cents per bushel. May was up 3-1/2 at $3.11-1/2 per bushel. July was up 3-3/4 at $3.21-1/2.

Copyright Reuters, 2005

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