The December wheat contract on the Chicago Board of Trade was expected to open between $8.12 and $8.16 per bushel when electronic trade resumes on Tuesday night, based on moves in wheat options, traders said.
December wheat futures settled at $8.05-1/2 per bushel Tuesday, up its daily limit of 30 cents per bushel, but the contract traded synthetically, through wheat options, as high as $8.22 late in Tuesday's day session, they said.