SYDNEY- US wheat futures edged higher on Thursday as fears of tighter global supplies pushed prices towards a near 18-month high.
Corn firmed, drawing support from wheat, while soybeans inched lower.
The most-active wheat futures on the Chicago Board of Trade were up 0.2 percent at $5.78-3/4 a bushel. In the previous session, it closed 0.7 percent lower after hitting an Aug. 2, 2018 high of $5.92-1/2 a bushel.
“There are some weather concerns in the Black Sea, which has the market a bit worried,” said Phin Ziebell, agribusiness economist, National Australia Bank.
Russia, the world’s largest wheat exporter, said last week it was looking to set a non-tariff quota for grain exports of 20 million tons for January-June. – Reuters
