CBOT wheat futures rise on technical buying

Chicago Board of Trade soft red winter wheat futures rose 2.0 percent to a one-month high on Thursday in a round of short-covering and technical buying, traders said. Kansas City hard red winter wheat and MGEX spring wheat also closed firm, but gains in spring wheat were limited by good conditions in key growing areas of the northern US Plains. The benchmark CBOT July wheat contract broke through its 30-, 40-, 100- and 200-day moving average. It hit resistance at the high end of its 20-day Bollinger range, a level it has not closed above since April 20.