Wheat rises again after Egypt’s purchase of US cargo

The General Authority for Supply Commodities’ (GASC) latest wheat purchase from US suppliers pushed Chicago wheat futures up for a second session “on hopes of higher demand for U.S. cargoes,” Reuters reports. Wheat contract on the Chicago Board of Trade gained 0.6% on Monday “on hopes of higher demand for U.S. cargoes.” Egypt’s purchase of US cargo for the first time since May 2017 had led to a 1.5% gain last month.