Egypt Buy Wheat, Bears Retreat!

Egypt buys Wheat, bears retreat! Chicago Wheat futures skyrocketed higher, touching the 30-cent limit late in the session, as Egypt announced a purchase of 115,000 metric tons of US Soft Red Wheat. This news, combined with Iraq's purchase of 100,000 tons of Hard Red Wheat, gave traders reason to believe that US Wheat exports will soon pick-up. Read More....