---
title: "CBOT wheat nears 3-month high on bargain-buying, short covering"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/275814859.md"
datetime: "2026-02-12T22:01:25.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/275814859.md)
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  - [zh-HK](https://longbridge.com/zh-HK/news/275814859.md)
---

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# CBOT wheat nears 3-month high on bargain-buying, short covering

CHICAGO, Feb 12 (Reuters) - Chicago Board of Trade wheat futures rose nearly 3% on Thursday on chart-based buying and short-covering, traders said.

-   CBOT March soft red winter wheat (WH26) settled up 15-1⁄4 cents, or 2.8%, at $5.52-1⁄2 per bushel, after reaching $5.53-1⁄2, the contract’s highest since November 20.
-   CBOT March wheat (WH26) ended just above its 200-day moving average near $5.51.
-   K.C. March hard red winter wheat (KWH26) settled up 15-1⁄2 cents at $5.54 a bushel.
-   Minneapolis March spring wheat (MWEH26) rose 7-1⁄4 cents at $5.77-1⁄2 a bushel.
-   Managed commodity funds hold a large net short position in CBOT wheat futures, leaving the market prone to short-covering rallies, while ample global grain supplies continue to anchor prices.
-   The U.S. Department of Agriculture reported net export sales of old-crop U.S. wheat in the week ended February 5 at 488,000 metric tons, near the high end of a range of trade expectations for 200,000 to 500,000 tons. (EXP/WHE)
-   Consultancy Expana lowered its forecast for European Union soft wheat exports in the 2025⁄26 season by 1.2 million metric tons this month to 27.6 million, citing tough competition on world markets.
-   Grain shipments to Ukrainian ports so far this year lag behind last year’s levels despite increases since the start of February, state railway company Ukrzaliznytsia said.
-   Officials and analysts say that Russia’s attacks on Ukrainian ports and energy infrastructure have significantly complicated both the delivery and shipment of goods for export.

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