Chicago Board of Trade wheat futures closed higher on Thursday on technical buying and worries about crop prospects in the Black Sea region, traders said. CBOT July soft red winter wheat settled up 4-1/4 cents at $5.26-1/4 per bushel. For the month of May, the contract rose 15-3/4 cents a bushel or about 3 percent.
K.C. July hard red winter wheat ended Thursday up 1-3/4 cents at $5.42-1/2 a bushel and MGEX July spring wheat rose 1/2 cent to $6.12. Russia's 2018 crop of winter wheat and rye is expected to fall around 10 percent from last year due to dry weather, state weather forecaster Hydrometcentre said.
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