Wheat Climbs to a Two-Month High on Improved Demand; Corn Gains
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Wheat futures rose to a two-month high after a government report showed improved U.S. sales to China and Brazil. Corn also advanced, while soybeans declined.
Exporters sold 620,212 metric tons of wheat in the week ended Sept. 19, up 44 percent from a year earlier, with China and Brazil as the primary destinations, the U.S. Department of Agriculture said today in a report. China, the world’s biggest consumer of the grain, took 28 percent of new sales, the agency said. Total sales since June 1 are up 39 percent from a year earlier, government data show.