US wheat futures firm on technical buying, short-covering

CHICAGO: Chicago Board of Trade wheat futures hit a one-week high on Tuesday, with technical buying and short-covering turning the market higher after prices sagged to session lows.

K.C. hard red winter wheat and MGEX spring wheat contracts also closed in positive territory after trading on both sides of unchanged.

The US Department of Agriculture said late on Monday the US 2018 winter wheat crop was 75 percent planted, up from 60 percent a week earlier but behind the five-year average of 80 percent.

Technical support for the benchmark Chicago Board of Trade December soft red winter wheat contract was noted at the five-day moving average.