February 11, 2008

CBOT raises wheat price limit, March contracts hit US$11.53/bushel

The March wheat contract on the Chicago Board of Trade has hit limit-up, rising 60 cents from Friday's US closing to US$11.53 a bushel in morning trade Monday (February 11, 2008).

The Chicago Board of Trade Sunday increased its price limit for wheat futures to 60 cents above or below the previous day's settlement price from an earlier price limit of 30 cents.

Wheat prices are rising on strong global demand and historically low wheat inventories.