Wheat Rebounds From Two-Month Low as U.S. May Boost Export Sales
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Wheat futures rebounded from a two-month low amid signs that demand for U.S. exports is increasing.
Egypt, the world’s largest importer, bought 115,000 metric tons from the U.S. in a tender, the government in Cairo said. Iraq, Morocco and the United Arab Emirates also have issued buying tenders. Grains plunged yesterday as escalating unrest in the Middle East and North Africa threatened to curb demand. Wheat tumbled as much as 17 percent since Feb. 14, when the price reached the highest since August 2008.