wheat futures

Prices of global wheat futures hit records during the first week in September, about double what they were a year ago.

After a delay of two years, the government gave the go-ahead for a market to trade wheat futures in Chengchou, Henan Province.

WHEAT . . . Wheat futures managed to close higher despite being lower most of the day session.

This month the fund is up about 2 per cent. The fund has made big gains from trades in corn and wheat futures markets in the past few days.

U. S. wheat futures have gained nearly 85% from a nine-month low in June amid expectations that demand for U. S. wheat will increase.

Last week, September wheat futures showed the steepest increase since 2008.

US wheat futures also jumped and are up more than 80 per cent since mid-June, the fastest rally in nearly 40 years.

March wheat futures on the Chicago Board of Trade are currently trading around $8. 27 a bushel.

Chicago wheat futures for March 2008 delivery rose to $9. 29 a bushel, just short of last summer's all-time high of $9. 61.

On Monday, wheat futures edged down 31. 5 cents, or 3. 8 percent, after word spread of China's recent damp weather.

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