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334996

U.S. wheat rises on bargain buying

CHICAGO, Oct 20 (Reuters) - U.S. wheat futures firmed on Thursday on a mild round of bargain buying, traders said. * But poor end user demand kept prices for the benchmark Chicago Board of Trade December soft red winter wheat contract near the four-week low hit on Tuesday. * The U.S. Agriculture Department said on Thursday morning that export sales of wheat totaled 185,100 tonnes in the week ended Oct. 13. That was below the low end of analysts' estimates that ranged from 200,000 and 550,000 tonnes and lower than the prior week's total of 211,823 tonnes. * CBOT December soft red winter wheat settled up 8 cents at $8.49-1/4 a bushel. * MGEX spring wheat for December delivery was 9-1/4 cents higher at $9.62-3/4 a bushel while K.C. December hard red winter wheat futures rose 8-1/4 cents to $9.50 a bushel. * Argentina's Rosario grains exchange cut its 2022/23 wheat harvest forecast to 15 million tonnes, down from 16 million tonnes estimated last week after a late frost hit crops already damaged by drought. (Reporting by Mark Weinraub; editing by John Stonestreet)

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