Wheat Futures Poised For Highest Settlement In 6 Weeks
Wheat futures climbed Wednesday, poised to log their highest settlement in about 6 weeks as data from the U.S. Department of Agriculture showed a climb in wheat "disappearance" for the June to August period. Wheat disappearance, or utilization, was up 1% versus the same time a year ago, the USDA Grain Stocks report showed. "That's not much, but demand is actually quite steady and growing based on the disappearance numbers," said Sal Gilbertie, president and chief investment officer at Teucrium Trading LLC. "It could be that relatively low agricultural prices ... continue to stimulate demand across the [grain] sector." December wheat traded at $5.0875 a bushel, up 5 cents, or 1%, in Chicago. December corn was also up a penny at $3.90 a bushel and November soybeans rose 1 1/2 cent to $8.855 a bushel.
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