CBOT wheat futures higher

Chicago Board of Trade wheat futures closed higher on Wednesday on bargain buying a day after plentiful global supplies and sluggish export demand for US wheat sent most months to contract lows, traders said. Most-active CBOT March soft red winter wheat settled up 5-1/2 cents at $4.34-3/4 a bushel.
K.C. March hard red winter wheat ended up 3-3/4 cents at $4.31-1/2 a bushel and MGEX March spring wheat rose 1-1/4 cents to $6.23-1/4. Russia is expected to produce another large grain crop in 2018 including 76.7 million tonnes of wheat, compared with 83.9 million in 2017, agriculture consultancy SovEcon said in a preliminary forecast. Ahead of the US Department of Agriculture's weekly export sales report on Thursday.