CBT WHEAT FUTURES OPEN FIRMER, SET NEW HIGHS
CBT wheat futures opened firmer to again
set new contract highs in new crop, then back off those highs
to hold gains of 1-1/4 cents per bushel in May, with new crop
July unchanged in light early dealings.
    Steady speculative buying after yesterday's strong close
kept the chart picture very bullish and supported initial
values, traders said.
    Rumors that exporters are planning to ship SRW wheat out of
Toledo and/or Chicago, further tightening already low
deliverable stocks, kept May firm relative to new crop months,
they added.
    However, the rally failed to follow-through due to the lack
of confirmed export sales of significant quantities of U.S.
wheat so far this week, as some traders expected.

 Reuter
