CBOT wheat rebounds on technical buying
CHICAGO, Feb 18 (Reuters) - Chicago Board of Trade wheat futures closed higher on technical buying on Wednesday after sliding 2% during the previous session, traders said.
Weather risks and a swift end to the latest peace talks between Russia and Ukraine added uncertainty to the market.
Two days of peace talks in Geneva between grain exporters Ukraine and Russia ended without a breakthrough.
A cold snap across most of Ukraine following a thaw has led a crust of ice to form on fields that may damage winter wheat and rapeseed, farmers union UAC said.
Traders also kept an eye on dry weather in the U.S. southern Plains, where farmers grow hard red winter wheat.
The central and southern Plains faced warm weather and wildfire threats due to gusty winds and low humidity, according to a daily U.S. Department of Agriculture weather report.
CBOT March soft red winter wheat WH26 was up 9-1/4 cents at $5.47 per bushel.
K.C. March hard red winter wheat KWH26 rose 12-1/4 cents to $5.51 per bushel, while Minneapolis March spring wheat MWEH26 was 5-3/4 cents higher at $5.74 per bushel.
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