CHICAGO – US wheat futures rebounded from a one-month low, gaining 1.1 percent on a round of bargain-buying and renewed interest on the export market, traders said.
Soybeans also were firm but corn was weaker on a technical setback.
News that Chinese buyers had booked a large amount of feed wheat from France and Australia also raised the prospect of importers stepping up purchases following the price fall in the last week.
Chinese buyers have also booked French and Ukrainian barley along with Ukrainian corn since last week to cover feed grain needs, trade sources told Reuters.
A further planned rise in Russia’s wheat export tax for next week also kept attention on underlying strength in export prices.
