US wheat futures closed higher on Tuesday, rallying above $5 per bushel for the first time since August 7 on short-covering and technical fund buying with a weak dollar also providing support. CBOT December up 17 cents at $5.11-1/4. Funds bought 6,000 lots. Snow, rain delay Saskatchewan spring wheat harvest. Japan seeks 132,000 tonnes of wheat via regular tender.
Australian rains add 1 million tonnes to wheat crop - forecaster. Saudi Arabia bought wheat from Noble and Toepfer. Drier weather in northern US Plains boosts final harvest of spring wheat and wet weather disrupting final seeding of 2010 US winter wheat crop. Recent rainfall beneficial to Argentina's wheat crop.