CBOT wheat up on short covering

CHICAGO, Dec 24 (Reuters) - Chicago Board of Trade wheat futures rose for a fifth session on Wednesday as worries about war escalation in the Black Sea export zone and severe cold in Russian wheat belts encouraged short covering before the Christmas break, traders and analysts said.

• Gains remained moderate, with ample global supplies hanging over grain markets after multi-week price lows last week and light pre-holiday trade.

• Russian attacks on Ukrainian ports have reinforced short covering by investors that typically occurs before the year-end holidays.

• While winterkill remains a concern for the Black Sea wheat crop, snow cover should initially protect winter wheat in Russia from frost damage on Wednesday, while snow is set to spread in the next two weeks in Russia and also Ukraine, Commodity Weather Group said in a note.

• Bumper volumes expected from ongoing harvests in Argentina and Australia are set to bolster global supply for the rest of the 2025/26 season.

• CBOT March soft red winter wheat WH26 settled 4-3/4 cents higher at $5.21-3/4 per bushel.

• K.C. March hard red winter wheat KWH26 ended 6 cents higher at $5.34 a bushel.

• Minneapolis March spring wheat MWEH26 ended 1/4 cent higher at $5.80-1/4 per bushel.