Wheat prices advance on jump in US export sales

UNDATED -- Wheat prices advance on jump in US export sales

Wheat prices are ending higher after weekly U.S. exports of the grain rose sharply.

The actively traded May contract rose 11.75 cents to $6.955 a bushel.

Mike Zuzolo, president of Global Commodity Analytics and Consulting, said the gain was driven by a jump in weekly U.S. export sales. The increase of 40 percent over the four-week average caught investors by surprise and brought buyers to the market, Zuzolo said.

Most other agricultural commodities also rose, but not as much.

Corn for May delivery rose 2.75 cents to $6.9125 a bushel and May soybeans rose 7.5 cents to $14.735 a bushel.

In metals trading, palladium and platinum rose while other contracts were mixed.

Crude oil rose the most in two weeks, jumping $1.13 to finish at $91.56 a barrel.