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Wheat, Corn Gain on Rising Demand, Lower Stockpiles and Output

Wheat rose in Chicago and corn advanced to the highest price since July 2008 on stronger demand and forecasts for lower inventories and production.

Jordan may buy 100,000 metric tons of wheat in a tender with bids due Jan. 20, the Ministry of Industry and Trade said. Japan said it purchased 119,480 tons of U.S. milling wheat on Jan. 13, the most in five weeks. Corn stockpiles in the U.S., the world’s biggest shipper, may fall to the lowest in 15 years, the Department of Agriculture said last week.