Wheat futures on the Chicago Board of Trade were called to open 2 to 4 cents higher on Wednesday on concerns about dry weather in the southern US Plains, traders said. The overnight trend for CBOT wheat was up 4-3/4 cents to down 1-3/4 cents, with December up 4-3/4 at $7.78-1/4 per bushel.
In Paris, milling wheat futures were up 1.50 to 4.00 euros per tonne. On the export front, news that India tendering for wheat was mildly supportive, and rumours continued to swirl that Pakistan was seeking more wheat, possibly 200,000 tonnes. CBOT December wheat closed above resistance at its 100-day moving average of $7.65 on Tuesday, a bullish technical signal.