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CBOT wheat closes higher on Russia, US weather worries

ReutersFeb 18, 2025 8:13 PM

- Chicago Board of Trade wheat futures touched a four-month high on Tuesday on concerns over cold weather threatening crops in Russia and the United States, brokers said.

  • Short covering and spillover strength from a 16-month high in CBOT corn Cv1 helped lift wheat prices, they said.

  • A sharp drop in nighttime temperatures is expected in many of Russia's main winter wheat producing regions at the start of this week, analysts said.

  • Export prices in Russia, the world's largest wheat supplier, continued to rise for a fourth consecutive week amid declining shipments as an export quota entered into force, they added.

  • CBOT March soft red winter wheat WH25 settled up 4-3/4 cents to $6.04-3/4 per bushel.

  • K.C. March hard red winter wheat KWH25 ended up 6 cents at $6.27-1/4 per bushel, and Minneapolis March spring wheat MWEH25 advanced 7-1/2 cents to $6.41 per bushel.

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