Wheat supplied the 'W' in 'Wow' this week!

Pro Farmer | September 8, 2007| | Copyright

The old adage that a bull market needs to be fed a constant diet of bullish news was proved again this week. Wheat futures zoomed to record marks to open the holiday-shortened week as traders received several pieces of price-positive news:

Buyers buy

Egypt snapped up 470,000 metric tons (MT) of U.S. and Russian wheat in a mid-week tender. USDA also announced Iraq bought 200,000 MT of U.S. HRW wheat. India bought over 700,000 MT of wheat, and although none was U.S. origin, market bulls still realized that further tightened supplies on the global market. Add ...

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