Chicago Board of Trade (CBOT) soft red winter wheat futures rose 1.1 percent on Thursday, supported by a round of short-covering as the crop emerged from dormancy, traders said. MGEX spring wheat also ended in positive territory, but K.C. hard red winter wheat dipped slightly after touching an eight-day high.
Investment funds were eager to unwind bearish bets as the US winter wheat crop was vulnerable to damage in its current stage of development, a trader said. Signs of poor export demand for US supplies limited the gains in wheat, which closed well below their session highs.
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