CBOT wheat rebounds after September contract sets two-month low

CHICAGO, July 16 (Reuters) - Chicago Board of Trade wheat futures ended higher on Wednesday as the market rebounded after the most-active September contract WU25 fell to a two-month low, analysts said.

• Harvests in the Northern Hemisphere hung over the market by adding to supplies, traders said.

• Farm office FranceAgriMer predicted that stocks of the main French wheat crop will swell to a 21-year high in 2025-26.

• Agricultural consultancy Sovecon raised its forecast for Russia's wheat output to 83.6 million tons from 83 million.

• The Taiwan Flour Millers' Association purchased an estimated 89,650 metric tons of milling wheat to be sourced from the U.S. in a tender, European traders said.

• Algeria is expected to turn mostly to the Black Sea region for wheat as it purchases about 1 million metric tons in a tender, traders said.

• Traders monitored news that U.S. President Donald Trump said he is not planning to fire Federal Reserve Chair Jerome Powell.

• CBOT September soft red winter wheat WU25 closed up 3-1/4 cents at $5.41-1/4 per bushel after setting its lowest price since May 14.

• K.C. September hard red winter wheat KWU25 closed down 1 cent at $5.22-3/4 a bushel.

• Minneapolis September spring wheat MWEU25 was last down 1-3/4 cents at $5.99-1/2 a bushel, after setting its lowest price since May 19.