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  • Feb 19th, 2005
  • Comments Off on US MIDDAY: wheat turns up on spillover buying
Wheat futures at the Chicago Board of Trade turned up early on Friday following another surge in soybeans, traders said. Traders said spillover buying by speculators was buoying wheat futures. "All eyes are on beans, where beans go we go," a trader said. At 10:11 am CST (1611 GMT), March was up 1 cent or 0.34 percent at $2.96-1/2 per bushel. Other months were up 2 cents to down 1-1/2 cents. Goldenberg Hehmeyer bought 1,000 May $3.40 calls, and in the futures pit, Refco was a noted buyer of May, pit sources said.

Copyright Reuters, 2005


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