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SINGAPORE- Chicago wheat futures rose for a third consecutive session on Wednesday as tightening global supplies underpinned the market.
Soybeans lost ground as crop prospects brightened in South America, fueling expectations for bumper world supplies.
“There are quality issues with Australian wheat and supplies are tight in the Black Sea region,” said one Singapore-based trader. “Suppliers are looking at bringing Argentine wheat into the Middle East and Asia.”
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The most-active wheat contract on the Chicago Board Of Trade (CBOT) added 0.1 percent at $8.09-1/4 a bushel. — Reuters
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