READ MORE: Big Algerian Wheat Purchase Spooks Traders - WSJ.com: "Algeria sparked Wednesday's rally by buying 800,000 metric tons of milling wheat, with traders estimating the deal brings the African nation's total purchases for January to about 1.8 million tons. The source of Algeria's latest purchase wasn't disclosed.
The January purchase equals a third of what the U.S government expects Algeria to import for the current marketing year that ends May 31, raising expectations the forecast will be increased. Earlier on Wednesday, Algeria's aggressive buying pushed wheat futures in Europe to their highest level since March 2008."
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