CBOT wheat ends higher on global export optimism, short-covering

CHICAGO, Jan 16 (Reuters) - Chicago Board of Trade wheat futures closed higher on Friday as strength in corn and signs of fresh export demand for ample global supplies appeared to spark a round of short-covering, traders said.

• CBOT March soft red winter wheat WH26 settled up 7-1/2 cents at $5.18 per bushel. For the week, the contract was little changed, rising 3/4 cent a bushel or 0.1%.

• K.C. March hard red winter wheat KWH26 ended up 10 cents on Friday at $5.27-1/4 a bushel and Minneapolis March spring wheat MWEH26 rose 2-1/2 cents to finish at $5.65 a bushel.

• Traders await the outcome of a Saudi wheat tender seeking 595,000 tons, with results expected on Monday. The tender was seen as supportive to world wheat prices, even though U.S. wheat is not expected to be purchased.

• Managed commodity funds hold a sizable net short position in CBOT wheat futures, leaving the market prone to short-covering rallies.

• India has allowed 500,000 metric tons of wheat flour and related products to be exported, the government said, as supplies have improved in the world's second-biggest producer of the grain.

• Snowfall in southern Russia has not damaged winter crops, all of which remain in good condition, the country's agriculture minister was quoted as saying by the RIA news agency.

• U.S. markets and most government offices will be closed on Monday in observance of the Martin Luther King Jr. federal holiday.