US wheat futures rose for the second day in a row on Wednesday, supported by a round of short covering and a weak dollar that bolstered demand for US commodities, traders said. Gains in the Kansas City Board of Trade hard red winter wheat and MGEX spring wheat contracts outpaced the benchmark Chicago soft red winter wheat as high-protein wheat supplies remained scarce.
Hotter-than-usual temperatures forecast for northern US Plains, which will benefit spring wheat crop at first but could hamper grain filling if conditions persist. Some traders said dry conditions in southern US Plains could impede seeding of hard red winter wheat crop this fall.
Some hot weather in spring wheat production areas of Russia and Kazakhstan also adding support, particularly to KCBT and MGEX contracts. Jordan's state grains buyer purchased 50,000 tonnes of hard wheat in tender for 100,000 tonnes - European traders. Egyptian wheat-buying agency GASC may allow Ukrainian wheat in its purchase tenders by the end of the month - traders. Ukraine's farmers have harvested 12 million tonnes of wheat so far this year.