CBOT wheat edges higher on drought concerns
CHICAGO, March 24 (Reuters) - Chicago Board of Trade wheat futures rose on Tuesday on support from concerns about drought in the U.S. Plains and robust prices in the biggest exporter Russia, analysts said.
In Russia, a major grain producer, wheat export prices held near levels reached during the three-week rally triggered by the Iranian crisis, and analysts have raised their forecasts for March shipments amid accelerating exports.
Showers were not likely to bring relief to the wheat crop in the parched U.S. Southern Plains for the next 10 days.
CBOT May soft red winter wheat WK26 ended 2-1/4 cents higher at $5.90 per bushel.
K.C. May hard red winter wheat KWK26 settled 3/4 cent higher at $6.04 per bushel.
Minneapolis May spring wheat MWEK26 rose 4-1/4 cents to $6.31-1/4 per bushel.
