CBOT wheat rises on light technical buying, firm global cash prices

• Chicago Board of Trade (CBOT) wheat futures closed modestly higher on Tuesday.
• CBOT March soft red winter wheat settled up 1-1/2 cents, at $5.41 a bushel.
• US markets will be closed on Wednesday in observance of the Christmas holiday.

 CHICAGO: Chicago Board of Trade (CBOT) wheat futures closed modestly higher on Tuesday, amid light technical buying and positioning ahead of the Christmas holiday, traders said.

* Firm global cash prices added support to the futures market, traders said.

* Morocco will suspend customs duty on soft wheat from Jan. 2 to April 30 to ensure regular supplies and stable prices in the domestic market, according to a draft decree seen by Reuters.

* CBOT March soft red winter wheat settled up 1-1/2 cents, at $5.41 a bushel.

* K.C. March hard red winter wheat ended up 2 cents at $4.60-1/2 a bushel, while MGEX March spring wheat finished up 5-3/4 cents at $5.43 a bushel.

* US markets will be closed on Wednesday in observance of the Christmas holiday. CBOT trade resumes Thursday at 8:30 a.m. CST (1430 GMT).