CBOT wheat up on strength from corn futures
CHICAGO, Oct 22 (Reuters) -Chicago Board of Trade wheat futures on Tuesday gained strength from corn futures and as market players weighed Russian steps to regulate wheat exports, including through a reported price floor for selling in international tenders.
CBOT December soft red winter wheat WZ24 settled up 3-3/4 cents at $5.76 per bushel.
K.C. December hard red winter wheat KWZ24 ended up 4-1/4 cents at $5.86-1/2 a bushel and MGEX December spring wheat MWEZ24 settled up 2-1/2 cents at $6.16-1/2 a bushel.
In winter wheat, the U.S. Department of Agriculture said the U.S. crop was 73% planted, less than trade expectations of 77%, according to analysts, and behind the five-year average of 76%.
Showers in parts of southern Russia and the U.S. Plains were expected to help planting and ease concerns over dryness.
Next year's wheat harvest in Russia, the world's top exporter, is seen at around this year's level, according to the first early estimates released by the country's leading agriculture consultancies. The IKAR consultancy sees 2025's wheat harvest at 80 million to 85 million metric tons, while Sovecon predicts 80.1 million metric tons.
Reporting by Heather Schlitz; Editing by Richard Chang
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