CBOT wheat firm on strong overseas demand, war concerns

CHICAGO, Jan 26 (Reuters) - U.S. wheat futures rose onThursday, supported by signs of rising overseas demand andconcerns about crop shortfalls in war-torn Ukraine and Russia,key suppliers on the export market. * K.C. hard red winter wheat futures, which the track thehigh-protein crop grown in the U.S. Plains, notched the biggestgains, rising 2.4%. * Ukraine's wheat production is set to fall as farmersreduce planting due to the war, with the Ukraine GrainAssociation projecting that the 2023 crop will not exceed 16million tonnes. * The U.S. Department of Agriculture said on Thursday theagency sees Russia's official wheat crop estimate as "notfeasible." * South Korea's animal feed maker Nonghyup Feed Incpurchased around 11,000 tonnes of animal feed wheat expected tobe sourced from the United States in a private deal. * The USDA said on Thursday morning that weekly export salesof wheat totaled 561,400 tonnes, near the high end of analysts'forecasts that ranged from 150,000 to 575,000 tonnes and up from508,124 tonnes a week earlier. * The benchmark Chicago Board of Trade March soft red winterwheat contract settled up 11-1/4 cents at $7.52-1/2 abushel. * MGEX spring wheat futures for March delivery gained 6-3/4 cents to $9.16-1/4 a bushel and K.C. March hard redwinter wheat futures were 20 cents higher at $8.63-1/4 abushel. (Reporting by Mark Weinraubd; editing by Jonathan Oatis)

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