CBOT wheat futures firm on strong export sales

CHICAGO: US wheat futures firmed on Thursday, underpinned by strong export data, traders said.

The US Agriculture Department reported weekly export sales of wheat of 598,400 tonnes, topping trade forecasts that ranged from 250,000 tonnes to 450,000 tonnes.

A week ago, wheat export sales were 323,034.

Ample global and domestic stocks limited the buying in wheat.

Technical support for the benchmark CBOT March soft red winter wheat contract was noted at its five-day moving average.