US MIDDAY: wheat rises

27 Jun, 2008

July wheat was up 26 cents at $9.27-3/4 per bushel, September was up 25-3/4 at $9.46. Rallied to two-month high on technical buying and short-covering, led by corn and broad rally in commodities sector. Market shrugs off seasonal harvest pressure.
Talk of wheat quality and yield problems in some areas because of excessive rainfall and high humidity.

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