US wheat futures closed mostly higher on Wednesday due to rising demand from overseas buyers, traders said. Traders also noted some short-covering as investors squared up positions ahead of the US Thanksgiving Day holiday on Thursday. The futures market will be closed until 8:30 am CST (1430 GMT) Friday morning.
The benchmark Chicago Board of Trade December soft red winter wheat contract hit its highest since November 11 and settled above key resistance at its 20-day moving average of $6.51-1/4.
KCBT hard red winter wheat hit its highest since November 7, rising 1.3 percent, but MGEX spring wheat futures ended mixed, with the front-month contract easing 3-1/4 cents while deferred contracts rose.
Egypt, the world's top importer of the grain, said it bought 60,000 tonnes of French wheat for shipment in December.
Traders said there was talk among exporters that private buyers in Egypt were in negotiations to buy soft red winter wheat supplies from the United States.
There also was talk that Brazil was planning to buy some US wheat.
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