Wheat Advances on Speculation Argentina May Reduce Export Quota
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Wheat advanced on speculation that Argentina, the largest South American shipper, may further cut its export quota, adding to global supply concerns and prompting some investors to end bets on declines.
The grain for delivery in March climbed as much as 0.7 percent to $8.14 a bushel on the Chicago Board of Trade, and was at $8.1025 at 10:24 a.m. in Singapore. That takes the gain this year to 24 percent, making it the best performer on the Standard & Poor’s GSCI Commodity Index of 24 raw materials.