Wheat futures on the Chicago Board of Trade were higher at midsession on Tuesday, rallying from a choppy start on news that Iraq tendered for 1.5 million tonnes of wheat, traders said.
Technical buying by commodity funds was also supportive.
As of 11:35 am CDT (1635 GMT), July wheat was up 1-1/2 cents at $4.01 per bushel. Deferred months were up 2 to down 2 cents.
Funds bought at least 2,000 contracts by midsession, with Calyon Financial, ABN Amro, Man Financial and Refco Inc noted buyers, traders said.
Comments
Comments are closed.