Wheat futures at the Chicago Board of Trade rose sharply early Friday as a near relentless heat wave posed a further threat to the US hard red winter wheat crop, traders said.
At 10:05 am CDT (1505 GMT), CBOT wheat was up 2 to 8 cents, with July up 7-1/2 at $4.17 per bushel. Fund buying led the charge to higher price levels with Citigroup the featured buyer of 1,500 July. ABN Amro bought 400 July, pit sources said.