Wheat Poised for Longest Winning Streak Since 2007 on Imports
This article is for subscribers only.
Wheat futures advanced for an eighth day, the longest winning streak in more than three years, on concern that record food prices may fan social unrest and fuel inflation, prompting governments to boost grain imports.
March-delivery wheat rose as much as 0.8 percent to $8.635 a bushel on the Chicago Board of Trade, the highest price for the most-active contract since Aug. 6. A gain for an eighth day will be the longest rally since October 2007. The price was at $8.6025 at 2:56 p.m. Singapore time.