Wheat, corn and soyabean markets rallied at midday on Wednesday on a flurry of technical buying that coincided with the dollar pulling back from its session highs, traders said. The moves in grains accelerated as buy stops were hit in several markets. Chicago Board of Trade May wheat broke through its 20-day average and May soyabeans broke through the 20- and 50-day averages.
As of 12:21 pm CDT (1721 GMT), CBOT May wheat was up 9 cents at $4.72-1/2 per bushel. May corn was up 7-1/2 cents at $3.54 and May soyabeans were up 8 cents at $9.52-1/2 a bushel.
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