CHICAGO: Chicago Board of Trade wheat futures rebounded on Tuesday in bargain buying and short-covering bounce and on support about tightening global supplies, traders said.

CBOT September soft red winter wheat settled up 10-3/4 cents at $4.91 per bushel. The previous session’s 4.2-percent drop was the steepest for the most active contract since July 13, 2017.

K.C. September wheat ended 13-1/4 cents higher at $4.84 a bushel. September spring wheat gained 8-1/4 cents to $5.35-1/4 a bushel.

Markets will be closed on Wednesday for the US Independence Day holiday.—Reuters