CBOT wheat rise in technical rebound from recent declines

CHICAGO, Feb 26 (Reuters) - Chicago Board of Trade wheat futures settled higher on Thursday in a technical-buying rebound after three sessions of declines that were fueled by favorable U.S. crop weather and abundant global supplies, traders said.

• Forecasts for crop-boosting rain in parts of the U.S. Plains weighed on prices before Thursday's bounce.

• The wheat market remained anchored by ample global supplies and uncompetitive U.S. prices on the world market. Traders said cheaper Argentine supplies could spark imports into the United States.

• The U.S. Department of Agriculture reported net U.S. wheat export sales in the week ended February 19 at 242,964 metric tons for shipment in the 2025/26 marketing year, below trade estimates. New-crop sales of 107,015 tons topped expectations.

• CBOT May soft red winter wheat WK26 ended 4-3/4 cents higher at $5.74-1/2 a bushel.

• K.C. May hard red winter wheat KWK26 last traded 1/4 cent lower at $5.64 per bushel, and Minneapolis May spring wheat MWEK26 edged up 1/4 cent to close at $5.98-3/4 per bushel.