CBOT wheat extends rally as traders eye exports

CBOT wheat extends rally as traders eye exports

U.S. wheat futures rose for the fourth day in a row on Wednesday, with hopes for a pick-up in exports supporting prices amid uncertainty about exports from the Black Sea region due to the Russia-Ukraine war.

* The benchmark Chicago Board of Trade December soft red winter wheat contract (WZ2) settled up 12-3/4 cents at $8.13-1/4 a bushel.

* K.C. December hard red winter wheat futures (KWZ2) were 15-1/2 cents stronger at $8.94-1/2 a bushel and MGEX December spring wheat (MWEZ2) gained 9-1/2 cents to $9.21-1/2 a bushel.

* Analysts were expecting a U.S. Agriculture Department report on Thursday to show that export sales of wheat were in a range from 200,000 to 500,000 tonnes in the week ended Aug. 18. A week earlier wheat export sales totaled 207,152 tonnes.

* A group of South Korean flour mills bought around 50,000 tonnes of milling wheat to be sourced from the United States for November shipment, European traders said.