CBOT wheat futures up on short covering, weather concerns

May 6 (Reuters) - Chicago Board of Trade wheat futures crept higher on Tuesday on technical trading and weather risks in China, traders said.

• Traders said hot, dry weather in the major grain-growing province of Henan has raised concerns about wheat growth and led to short covering.

• A diminished Chinese wheat crop could lead to increased Chinese demand for wheat imports.

• However, rain in the Black Sea region and a boost to U.S. harvest prospects have continued to weigh on prices.

• The U.S. Department of Agriculture's weekly crop progress report, released after Monday's close, showed 51% of U.S. winter wheat rated good to excellent, slightly ahead of the average analyst projection and the highest for this time of the year since 2020.

• Drought conditions eased last week in portions of the U.S. winter wheat belt as showers crossed the southern Plains, with heavy rains in Oklahoma. As of April 29, some 23% of the U.S. winter wheat crop was located in an area experiencing drought, the USDA said last week, a drop from 33% the previous week.

• CBOT July soft red winter wheat WN25 closed 4-3/4 cents higher to $5.36 per bushel.

• K.C. July hard red winter wheat KWN25 ended 5-1/4 cents higher at $5.38 per bushel.

• Minneapolis July spring wheat MWEN25 ended 1 cent higher at $6.10-1/2 a bushel.