CBOT wheat futures up on short-covering

US wheat futures extended gains to fresh seven-month highs on Friday as investors covered short positions following a US Department of Agriculture report on Thursday that forecast smaller-than-expected US and global supplies, traders said. K.C. hard red winter wheat futures notched the biggest gains, rising 1.8 percent compared to a nearly 1 percent hike in Chicago Board of Trade soft red winter wheat and 0.4 percent rise in MGEX spring wheat.
Most active CBOT wheat rose to the highest levels since June 28 in the fourth straight session of gains. Wheat for the week climbed 4 percent for the best weekly performance since October.