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Australia continues to suffer from very dry wheat conditions

US MIDDAY: Wheat surges

October 18, 2012: US wheat futures rose almost one percent on Wednesday, reversing three days of declines, as the dollar tumbled and on dryness that posed a threat to wheat fields in Australia and the United States, the two top global wheat exporters. Soyabeans also rose after plunging 17 percent to a 3-1/2 month low early in the week from record highs of nearly $18 per bushel set in early September. And corn held firm but lacked bullish momentum with each market showing signs of choppy…

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