US Wheat: Chicago rose 4.5% in a day

On Wednesday, September soft wheat futures in Chicago rose 4.5% to a 2½ month high. The stock market enthusiasm was based on the desire of traders to fit the US market into the global trend of strengthening wheat prices. According to the Grain On-Line agency.  

In addition, rumors about the purchase by China of at least two US soft wheat were given a powerful impetus to trading.  

Against the positive news background, investors massively made speculative purchases and closed short positions.  

September quotations of American wheat rose:  

• SRW soft wheat in Chicago by $ 8.82 to $ 202.36 / ton
• durum wheat HRW in Kansas City by $ 6.34 to $ 168.83 / ton
• durum wheat HRS in Minneapolis by $ 3.31 to $ 193.91 / ton.

For more details on the daily update of world exchange and export prices, see the GRAIN On-Line website