Wheat ticks up after deep losses

Chicago wheat gained ground, recouping some of last session’s deep losses, although the market was trading close to its weakest in nearly three weeks on easing concerns over export curbs by top supplier Russia. The Chicago Board of Trade most-active wheat contract rose 0.5 percent to $5.16-3/4 a bushel after hitting at its weakest since Dec. 6 at $5.11-3/4 a bushel. Russia’s agriculture ministry lifted its forecast for 2018-19 wheat exports by 2 million tonnes to 37 million tonnes, a move interpreted by traders as another sign that the risk of export restrictions is easing.