Chicago Board of Trade wheat futures ended higher on Thursday, with the spot December contract reaching its highest in nearly three months as signs of rising global cash prices prompted a round of short covering, traders said.
CBOT December soft red winter wheat settled up 12-1/4 cents at $5.25-1/2 a bushel, after reaching $5.27, the contract's highest since July 19.
K.C. December hard red winter wheat ended up 6-1/4 cents at $4.31-1/4 a bushel and MGEX December spring wheat rose 1-1/2 cents to $5.52. Traders noted that Egypt on Wednesday bought 405,000 tonnes of Russian, French and Ukrainian wheat at prices that were roughly $6 to $9 per tonne higher than what it paid at its previous international tender on October 8.
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