CBOT wheat climbs, joining corn, soy, on Mexico tariff reprieve

CHICAGO, March 6 (Reuters) - Chicago Board of Trade wheat futures ended higher on Thursday, following advances in corn and soybeans after U.S. President Donald Trump temporarily exempted goods from Mexico from steep tariffs that he had imposed earlier this week.

• Mexico was the largest buyer of U.S. wheat in 2024 and Trump's tariff threats had raised fears of trade disruptions, sending CBOT wheat futures to life-of-contract lows this week.

• CBOT May soft red winter wheat WK25 settled up 5-3/4 cents on Thursday at $5.54 per bushel.

• K.C. May hard red winter wheat KWK25 ended up 8-3/4 cents at $5.65-3/4 a bushel and Minneapolis May spring wheat MWEK25 rose 6 cents to settle at $5.94.

• The tariff exemption for Mexico will expire on April 2. Trump had earlier only mentioned an exemption for Mexico, but the amendment he signed into his order covers Canada as well.

• A setback in the dollar .DXY added to bullish sentiment in grains, in theory making U.S. products more attractive to buyers overseas.

• The U.S. Department of Agriculture reported export sales of U.S. old-crop wheat in the week ended February 27 at 338,700 metric tons, in line with trade expectations for 225,000 to 450,000 tons. EXP/WHE

• China is expecting to produce an abundant wheat harvest this year due to favorable weather, a COFCO International executive said, with rising domestic supplies likely to reduce the need for imports.