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334856

CBOT wheat edges higher but closes below peaks

CHICAGO, Oct 17 (Reuters) - Chicago Board of Trade soft red winter wheat futures edged higher on Monday, with traders closely monitoring talks about keeping a Black Sea shipping channel open for grain from Ukraine. * Prices rallied to session peaks early on concerns that intense fighting would scupper negotiations about an extension of the deal. * But the market retreated from highs after the United Nations said discussions will continue on extending and expanding a U.N.-brokered deal. * The benchmark CBOT December soft red winter wheat futures contract settled up 1-1/4 cents at $8.61 a bushel. * The contract hit technical resistance at its 30-day moving average. * K.C. December hard red winter wheat ended down 1/2 cent at $9.51-3/4 a bushel and MGEX December spring wheat rose 1 cent to $9.55-1/4 a bushel. (Reporting by Mark Weinraub; Editing by Lisa Shumaker)

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