CBOT wheat ends higher on short-covering

CHICAGO: Chicago Board of Trade wheat futures closed higher on Wednesday on technical buying, including short-covering amid a lack of significant news, traders said.

CBOT December wheat settled up 3-1/2 cents at $4.17-3/4 per bushel after reaching $4.20-1/4, its highest since Oct. 20.

K.C. December hard red winter wheat settled up 1-3/4 cents at $4.15-1/2 a bushel and MGEX December spring wheat ended down 2-1/4 cents at $5.17-1/4.

Commodity funds maintain a large net short position in CBOT wheat, leaving the market vulnerable to bouts of short-covering.

Ample global grain supplies hang over the market, limiting rallies.