Chicago Board of Trade wheat futures rose Thursday on a larger-than-expected weekly US export sales tally and short-covering after a three-session slide, traders said. CBOT December wheat settled up 2-3/4 cents at $4.32-3/4 per bushel. K.C. December hard red winter wheat settled up 1-1/4 cents at $4.29-1/4 a bushel and MGEX December spring wheat rose 5-3/4 cents at $6.15-3/4.
Rallies limited by plentiful global wheat supplies and better weather for planting this week in the US Plains and Midwest, although forecasts called for light showers this weekend. The US Department of Agriculture reported export sales of US wheat in the latest week at 615,400 tonnes, topping a range of trade expectations for 250,000 to 450,000 tonnes. Egypt's state grain buyer said it bought 230,000 tonnes of Russian wheat in a tender. No US wheat was offered.