Modifying a table to insert a picture in one cell. I can not set text wrap. I noticed the doc was in compatibility mode, so I did a save as and unchecked the box to keep compatability on. That did not help. Both the Position and Text Wrap buttons are not available on the picture tools ribbon. I can do this in a new document. I created a table, pasted the text, inserted a picture, and Text Wrap was available.
Try inserting a one-celled table inside that cell and insert the picture in that table, so you have a picture inside the new one-celled table.