Chicago Board of Trade wheat closed higher on Tuesday as strength in corn and soybean futures triggered short-covering, traders said. CBOT December wheat settled up 5-1/4 cents at $4.15-1/4. K.C. December hard red winter wheat ended up 7-1/2 cents at $4.17-1/2 a bushel after reaching $4.22, a two-week high. MGEX December spring wheat finished up 7-1/2 cents at $5.14, rebounding from Monday's dip to a one-month low.
Egypt's state grain buyer, the General Authority for Supply Commodities, bought 240,000 tonnes of Russian and Romanian wheat in a tender, bypassing one offer of US wheat. Traders waited to see how the US presidential election affects the US dollar, and whether the US Department of Agriculture makes any major changes in Wednesday's monthly supply/demand reports.
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