CHICAGO: Chicago Board of Trade soft red winter wheat futures leapt to a four-month high on Monday, underpinned by rising prices in rival exporters Russia and Ukraine, traders said.
The most active CBOT soft red winter wheat futures gained 3-1/2 cents to close at $5.52-1/4 per bushel. The contract reached its highest price since April 20. December K.C. hard red winter wheat futures advanced 2 cents to $4.75-1/4 per bushel, while December MGEX spring wheat rose 1/4 cent to $5.39-1/2 per bushel.
Russian wheat export prices rose sharply last week, while Ukrainian wheat export prices jumped $5 per tonne due to higher demand from importers. European wheat futures in Paris fell on Monday after hitting a six-week high, with chart resistance and a firm euro curbing support from a rally in US grains.
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