The FINANCIAL — US wheat rose for the fifth day in a row on Friday as short sellers exited the market on increased hopes for a solution to the Eurozone debt crisis and signs the US economy was healing, according to gulfnews.
Spot wheat traded on the Chicago Board of Trade was up 6.5 per cent for the week, posting its biggest weekly advance in nearly five months and reversing four straight weeks of declines.
Corn eased 1 per cent in choppy dealings with profit-taking and poor US corn exports lending pressure while soybeans rose nearly 1 per cent in line with the broad-based commodities rally as well as on concern about pockets of dry weather in South America.
Corn was up nearly 1 per cent for the week ending in the black for the first time in three weeks and soybeans gained 2.5 per cent for the week notching their biggest weekly advance since mid-October.CBOT December wheat was up 10.25 cents at $6.1225, December corn was down 8.25 at $5.865 and January soybeans were up 7.75 at $11.3575.
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