CBOT wheat up on short covering

CHICAGO, Feb 19 (Reuters) - Chicago Board of Trade wheat futures turned higher on short covering on Thursday, traders said.

• Growers face difficult decisions this year due to a global supply glut, weak crop prices and rising costs for inputs such as seeds and fertilizer. U.S. farm income is projected to drop 0.7% despite near-record government payments, which are expected to account for nearly 29% of producers' revenue.

• Traders have kept a close eye on dry weather in the U.S. southern Plains, where the winter wheat crop will emerge from dormancy soon.

• U.S. wheat stocks were forecast at 933 million bushels by the end of the 2026/27 marketing year, nearly unchanged from a year earlier as lower exports following bumper crops in rival suppliers Argentina and Australia offset a drop in U.S. production.

• The U.S. Department of Agriculture saw 2026 plantings at 45.0 million acres, above an average estimate of 44.8 million but down from 45.3 million in the previous season.

• CBOT March soft red winter wheat WH26 settled 12-1/2 cents higher at $5.59-1/2 a bushel.

• K.C. March hard red winter wheat KWH26 rose 14-1/2 cents to end at $5.65-1/2 per bushel, while Minneapolis March spring wheat MWEH26 settled 8-1/2 cents higher to end at $5.82-1/2 per bushel.