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Markets

CBOT wheat ends higher after choppy session, corn lends support

CHICAGO: Chicago Board of Trade wheat futures closed higher on Friday after a choppy session, supported by strength
Published Updated

CHICAGO: Chicago Board of Trade wheat futures closed higher on Friday after a choppy session, supported by strength in corn and expectations of a pick-up in the amount of US wheat used as livestock feed, traders said.

* CBOT July soft red winter wheat settled up 3 cents at $5.38-1/2 per bushel.

* K.C. July hard red winter wheat ended up 8 cents at $4.76-1/4 a bushel while MGEX July spring wheat fell 3 cents to finish at $5.63-1/4.

* MGEX spring wheat was pressured by welcome rains expected in dry areas of Canada's spring wheat belt.

* Rains in Alberta last week improved parched soil conditions, the government of the western Canadian province said in a report as of June 11.

* A heat wave across southern Ukraine may affect the early grain harvest, weather forecasters said. Spring wheat, spring barley and oats are at risk.

Copyright Reuters, 2019

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