Wheat futures on the Chicago Board of Trade were higher early on Wednesday in a technical rebound following a week-long sell-off and signs of fresh export interest, traders said. USDA confirms Egypt buys 120,000 tonnes 2008/09 US soft red winter wheat.
Egyptian grain importer and distributor Abou Donkol intends to seek about 200,000 tonnes of US wheat in the next three months. Brazil buys 200,000 to 250,000 tonnes of US and Canadian wheat as Argentine farmer strike continues.
Ukraine considers larger grain export quotas. As of 9:35 am CDT (1435 GMT), CBOT May wheat was up 15 cents at $9.10 per bushel. Kansas City Board of Trade May wheat was up 16-1/4 cents at $9.66-1/4 and Minneapolis Grain Exchange May spring wheat was up 16 at $11.71.