Chicago wheat futures rose on Thursday, rebounding after two days of deep losses, with support from dry weather that is expected to reduce yields in Russia and Australia. Traders said they were also monitoring wet conditions in the southern US Plains and Midwest that threaten winter wheat quality, as well as the spillover impact of trade tensions between the United States and Mexico.
Chicago Board of Trade (CBOT) July soft red winter wheat settled up 19-1/4 cents at $4.10 per bushel. K.C. July hard red winter wheat ended up 9-1/2 cents at $4.55-1/4 a bushel, while MGEX July spring wheat settled up 18 cents at $5.65 a bushel.