CBOT wheat rises on light technical buying, firm global cash prices

Chicago Board of Trade (CBOT) wheat futures closed modestly higher on Tuesday, amid light technical buying and positioning ahead of the Christmas holiday, traders said.

Firm global cash prices added support to the futures market, traders said.

Morocco will suspend customs duty on soft wheat from Jan 2 to April 30 to ensure regular supplies and stable prices in the domestic market, according to a draft decree seen by Reuters.

CBOT March soft red winter wheat settled up 1-1/2 cents, at $5.41 a bushel.

KC March hard red winter wheat ended up 2 cents at $4.60-1/2 a bushel, while MGEX March spring wheat finished up 5-3/4 cents at $5.43 a bushel.