CBOT wheat higher on drought concerns
CHICAGO, March 26 (Reuters) - Chicago Board of Trade wheat futures turned higher on Thursday on drought concerns in the U.S. Plains, with forecasts now showing limited chances of rain before early April and hot weather expected this week, which is likely to exacerbate dryness.
Market players are also wading through mixed signals about the Iran war.
U.S. President Donald Trump warned Iran on Thursday to "get serious" about a deal to end nearly four weeks of fighting, after its foreign minister said Tehran was reviewing the U.S. proposal but there were no talks on winding down the war.
The U.S. Department of Agriculture reported net weekly U.S. wheat export sales for the current and next marketing years at 602,995 metric tons for the week ended March 19, slightly above analysts' estimates.
CBOT May soft red winter wheat WK26 settled 7-1/4 cents higher at $6.05 a bushel.
K.C. May hard red winter wheat KWK26 gained 9 cents to settle at $6.26-3/4 a bushel.
Minneapolis May spring wheat MWEK26 settled 4-1/4 cents higher at $6.45 a bushel.
