CHICAGO: Chicago Board of Trade wheat futures reached their highest prices in more than a week on Wednesday on concerns about poor crop weather reducing global harvests, before ending lower.

Chicago Board of Trade September soft red winter wheat lost 3-1/4 cents at $4.94-1/2 per bushel. The most active contract traded up to $5.05, its highest since July 10, before paring gains.

K.C. September hard red winter wheat dipped 3 cents to $4.87-3/4 a bushel.

Technical selling weighed on prices after early gains, traders said.

Euronext wheat also eased, as the market took a pause following a four-session rally that had brought prices close to 2018 highs amid worries about weather hurting Europe’s harvests.—Reuters