CBOT wheat closes higher after previous day's profit-taking
CHICAGO, March 11 (Reuters) - Chicago Board of Trade wheat futures turned higher on Wednesday, but still remained generally rangebound, as investors corrected from the previous session's profit-taking, traders said.
Wheat futures also firmed on signs of demand and support from the escalating U.S.-Israeli war on Iran, which bolstered both grain and oilseed markets during the session, traders said.
Wheat is often sensitive to geopolitical risks and also benefits from an influx of managed money into commodity investments.
Dryness has grown for the winter wheat crop in the U.S. Plains, an analyst note said.
CBOT May soft red winter wheat WK26 ended up 3-3/4 cents at $5.94-3/4 per bushel.
K.C. May hard red winter wheat KWK26 settled up 4-3/4 cents at $6.13-1/2 per bushel.
Minneapolis May spring wheat MWEK26 closed up 3 cents at $6.38 per bushel.
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