US MIDDAY: wheat surges

22 Sep, 2012

Wheat prices climbed on Friday as Russia's economy minister raised the possibility of grain export curbs by the world's third-largest wheat shipper. December wheat futures on the Chicago Board of Trade rose 17 cents, or 1.9 percent to $8.96-1/2 a bushel by 10:56 am CDT (1556 GMT). For the week, the nearby wheat contract was on course for a slight loss, its first decline in four weeks.
CBOT November soya rose 0.3 percent, or 5 cents, to $16.24 a bushel in choppy trading but was on track for the biggest weekly loss for a nearby contract in a year, at about 6.5 percent. CBOT December corn added 0.7 percent, or 5 cents, at $7.51 a bushel, on pace for a weekly loss of more than 3 percent.

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