Chicago wheat futures rose for a second straight session with prices underpinned by lower output in key exporting countries, which is expected to boost demand for U.S. supplies. The most-active wheat contract on the Chicago Board Of Trade was up 0.4 percent at $5.02-1/2 a bushel. Staying price competitive is obviously important but ranged against that is less wheat being available. The EU, Russia and Australia have much less wheat to offer this year. Price is never irrelevant but the available wheat right now is in the U.S. and we expect it to flow. U.S. wheat exports have also struggled amid competition for global business from Russia, the world’s biggest supplier. But lower output in some of the top exporters is likely to boost demand for U.S. wheat early next year. (Source-Reuters)