CHICAGO: Chicago Board of Trade wheat futures closed higher on Friday on light technical buying following the US Fourth of July holiday and spillover strength from corn, traders said.
CBOT September soft red winter wheat settled up 1 cent at $5.15 per bushel after hitting chart-based resistance at its 200-day moving average near $5.16.
For the week, the contract fell 12-1/4 cents per bushel or about 2pc, notching its third straight weekly slide.
K.C. September hard red winter wheat on Friday ended up 1-1/2 cents while MGEX September spring wheat fell 6-3/4 cents to $5.33-1/4.
The US Department of Agriculture reported export sales of US wheat in the latest week at 276,500 tonnes, toward the low end of trade expectations for 250,000 to 550,000 tonnes.
Traders await the USDA's next monthly supply/demand report on July 11.
Algeria state grains agency OAIC purchased 360,000 tonnes of optional-origin milling wheat at a tender on Thursday priced at around $217-$217.50 a tonne, cost and freight included, European traders said.
Farming agency FranceAgriMer estimated that 75pc of the French soft wheat crop was in good or excellent condition by Monday, down from 80pc a week earlier following a heat wave.
Ukrainian wheat production could jump by 16.9pc to 28.8 million tonnes this year, French consultancy Agritel said.
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