CBOT wheat hits July high on technical buying, short covering

CHICAGO, Nov 17 (Reuters) - Chicago Board of Trade wheat futures Wv1 reached their highest level since July on Monday on technical buying and short covering, analysts said.

• Spillover support from strong gains in soybean futures also helped to lift wheat futures.

• Global wheat supplies were considered to be ample.

• The U.S. Department of Agriculture on Friday estimated 2025-26 world wheat ending stocks at 271.43 million metric tons, above analysts' estimate of 266.13 million metric tons.

• Russia, the world's largest wheat exporter, has shipped 58,000 metric tons of food-grade wheat to Mexico from its western port of Kaliningrad this year, the local agricultural safety watchdog said, a significant slowdown from 2023 and 2024.

• CBOT December soft red winter wheat WZ25 closed up 17 cents at $5.44-1/4 per bushel.

• K.C. December hard red winter wheat KWZ25 ended 13-1/2 cents at $5.28-3/4 a bushel, and Minneapolis December spring wheat MWEZ25 was last up 9 cents at $5.73-3/4 a bushel.