CBOT wheat highest since June on short covering
CHICAGO, Feb 20 (Reuters) - Chicago Board of Trade most actively traded wheat futures on Friday hit their highest point since June on a short-covering rally and weather concerns in the U.S. Plains.
Dryness and winterkill may pose a threat to the U.S. winter wheat crop, which may come out of dormancy soon.
Global wheat supplies could tighten in the 2026/27 season and corn production may also dip, the International Grains Council said on Thursday.
The U.S. Department of Agriculture reported weekly net wheat export sales for the current marketing year at 288,000 metric tons.
CBOT March soft red winter wheat WH26 rose 14 cents to $5.73-1/2 a bushel.
K.C. March hard red winter wheat KWH26 rose 6-3/4 cents to end at $5.72-1/4 per bushel, while Minneapolis March spring wheat MWEH26 settled 4-3/4 cents higher to end at $5.87-1/4 per bushel.
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