US wheat futures ended higher on Tuesday on a bounce in the stock market following's Monday fall to levels not seen in over a decade. CBOT March wheat closed up 4-3/4 cents at $5.15-1/4 per bushel and KCBT March was up 5 at $5.53-1/4. Syria buys 200,000 tonnes soft wheat in tender, likely Russian origin-trade. South Korea's Dongah buys 22,000 tonnes of US wheat.
Japan cuts wheat price for first time in 3 years. Iraq wheat crop put at 2 million tonnes in 2009-AgMin. More rain needed in US Plains HRW wheat region and chances for rain soon appear limited. USDA's weekly Texas crop report said wheat in the Texas High Plains improved a little from a week ago but crop still rated below average due to dry weather. March contract below all key moving averages and nine-day RSI at 34.
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