US MIDDAY: wheat rallies

24 May, 2008

Wheat futures on the Chicago Board of Trade posted double-digit advances past midday on Friday on a light short-covering rally amid thin, pre-holiday trade, traders said.
As of 12:30 p.m. CDT (1730 GMT), CBOT July wheat was up 8-1/2 cents at $7.53-1/2 per bushel after briefly reaching $7.58-1/2. Kansas City Board of Trade July wheat was up 1-1/4 cents at $8.01-1/2 and Minneapolis Grain Exchange July spring wheat was up 5-1/4 cents at $10.25.

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