USA: CBOT wheat ends the day higher amid questions about EU and China production

Chicago Board of Trade most active wheat Wv1 rose on Friday as traders weighed the production impact of adverse weather in Europe and China, and as market participants scrambled to cover their positions on signs of the U.S. economy weakening, market analysts said. CBOT September soft red winter wheat WU24 settled up 7 cents at $5.39 per bushel. The most-active contract Wv1 ended the week up 2.96%. September K.C. hard red winter wheat KWU24 settled up 5-1/4 cents at $5.59-3/4 per bushel. MGEX September spring wheat MWEU24 ended up 6-1/2 cents at $5.95 per bushel. Wheat futures saw some pressure as rain relief was forecast for Argentina’s wheat growing areas. But news that storms could halt the French wheat harvest again after farmers made progress during an early-week hot spell gave contracts some support on the day, traders said. French farmers had harvested 67% of this year’s soft wheat crop by July 29, advancing from 41% a week earlier though well behind the usual pace as rain ...