With a bit of help from Russia, Egypt and Poland, wheat made it.

Chicago's spot contract, currently the September lot, hadn't closed above $6 a bushel since June last year.

Until Wednesday, when it ended up 3.1% at $6.13 ½ a bushel. And even that was nearly $0.10 a bushel off the contract's day high.

The trigger, as ever, was in the main Russia, and the latest utterance from SovEcon, the Moscow-based analysis group which has kept at the cutting edge of the country's grain woes.

SovEcon said that Russia's grain imports may near-halve to 12m tonnes in 2010-11, putting a credible number on a fear which has been bouncing around the markets for the last couple of weeks.

Exporter to importer? 

It also echoed warnings that Russia may curb its exports to guarantee domestic supplies, what, with the country attempting to beef up its livestock industry.

Benson Quinn Commodities chipped in: "Some analysts are starting to predict that Russia will have to import feed grains to feed its livestock during the coming year."

That's hardly reassuring speculation for Egypt, a big customer of Russia's, and the world's top wheat buyer, which indeed loosened its shipping terms for France, taken as a signal that it is lining up alternative buyers.

And Poland, the European Union's third-biggest grain grower, said its grain crop could be 10% lower than last year's, albeit to levels above that which some analysts have pencilled in.

Protein boost? 

"The key to the markets is how much of this news is dialled into the market," US Commodities said.

The answer was not all of it, to judge by Chicago's reaction, and that in Europe, where Paris wheat for November jumped 4.8% to E189.50 a tonne, its best close since August 2008, while London set a two-year high of £139.00 a tonne, up 4.4%.

It also rather overshadowed the results of the US Wheat Quality Council's spring wheat tour, which would often be a market highlight. The tour's first day, came up with a bumper yield 43.1 bushels an acre, if not as high as some have been forecasting, although the upside is that quality is good.

"Grain traders are optimistic the crop will produce better protein," Benson Quinn Commodities said, noting that early samples have indicated levels of about 14%.

Wheat in Minneapolis, the home of US spring wheat trading closed up 2.8% at $6.43 a bushel, also a high since June last year.

Feeds fed on 

Wheat's performance spilled over into other crops.  After all, wheat isn't the only feed.

Corn, one alternative, surged 3.7% to $3.76 ¼ a bushel for September delivery. Soymeal, another feed source, added 2.4% to $301.70 a short ton, helping soybeans close higher too.

August soybeans ended up 1.3% at $10.10 ½ a bushel, after a brief sojourn below $10 bucks a bushel, while the new crop November lot added 1.3% to $9.78 a bushel.

'Hotter forecast'

And wheat wasn't the only reason for their support. The US weather outlook turned less benign, offering a reason to reinject some risk premium.

"Corn and soybeans are being supported not only by the wheat strength but by a little hotter forecast as well," Darrell Holaday at Country Futures said.

Allendale, the Illinois broker, said: "We could be in for a drier-than-normal late summer and fall period in the Midwest", adding that "Russia is forecast to stay dry through first half of August".

Corn also got some extra strength after breaking back through its 100-day moving average, which had potentially looked a resistance point to further gains.

Taste for sugar 

Softs had a strong day too, with sugar continuing its upward climb on fears that the sweetener isn't coming out of Brazil, the top producer, fast enough to fulfil importers' needs.

Furthermore, dry weather is prompting concerns over beet crops in the European Union and Russia, both big importers of the sweetener.

Raw sugar for October added 2.4% to 18.87 cents a pound in New York, a fresh four-month high, with white sugar for October closing 0.7% higher at $570.50 a tonne.

'Aggressive tactics'

However, arabica coffee beans were the stars, ending 2.2% higher in New York at 167.40 cents a pound for September delivery, after a late buying spree.

"The market ignited two hours into the afternoon, when New York jammed [3.5 cents] higher in a matter of a few minutes," Ralph Hawes at Sucden Financial said.

"The manner in which it moved though is… somewhat typical of late where aggressive tactics can be effectively employed in a market lacking in liquidity.

"This is what we have to contend with and with limited trade participation, whether due to seasonal considerations or downright fear."

A resistance level at 170 cents a pound "is the hurdle to overcome", he added.