CBOT wheat futures edge higher

Chicago Board of Trade wheat futures were narrowly higher on Friday, gaining on a light short-covering bounce ahead of next week's US presidential election and US Department of Agriculture supply and demand reports, traders said. Wheat on a continuous chart gained 1.2 percent for the week, rising after declining the previous two weeks.
K.C. winter wheat and MGEX spring wheat also notched small gains while Paris milling wheat futures were narrowly lower. Analysts polled by Reuters expected the USDA on Wednesday to show slightly higher US wheat ending stocks. Major consumers of animal feeds, Brazil's poultry and pork industries, are opting for quality wheat as a cheaper substitute for dearly priced corn.