Wheat Gains on Overseas Demand
Friday, May 24, 2013 1:40 pm |
< 1 Minute Read
The price of wheat is rising by the most in two weeks after a U.S. government report showed strong demand for the grain from overseas buyers.
Wheat for delivery in July rose 14.75 cents, or 2.1 percent, to $7.0325 a bushel, its biggest advance since May 9.
The U.S. Department of Agriculture on Thursday reported orders for a total of 953,000 tons of wheat in its weekly export sales report. That was more than traders and analysts had expected, boosting the outlook for demand.
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