CHICAGO: Chicago Board of Trade wheat closed higher Wednesday on technical buying including short-covering, coupled with worries about dry weather in Australia and excessive rains in Argentina, traders said.
CBOT December wheat settled up 6-3/4 cents at $4.49-3/4 a bushel after notching a one-month high at $4.52 in the final minutes of trade.
K.C. December hard red winter wheat ended up 6 cents at $4.48 a bushel and MGEX December spring wheat rose 4-1/4 cents at $6.21-1/2.
Rains expected next week should help recharge soil moisture in the southern US Plains winter wheat belt, where planting is under way.
Ahead of the US Department of Agriculture's weekly export sales report on Thursday, analysts expected the government to report weekly US wheat export sales at 300,000 to 500,000 tonnes.
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