December wheat settled up 2 cents at $3.15 per bushel, after trading as high as $3.17-1/2. Deferred months were up 1-3/4 to 2-1/2 cents.
Funds were net buyers of 1,000 to 2,000 lots on the day.
Traders cited market talk of possible export demand from both India and Iraq. Indian wheat futures declined on talk in New Delhi that the Indian government is likely to allow wheat imports in December or January.
The chatter underscored ideas that strong export demand for hard wheat could prompt the US Department of Agriculture to raise its projection for US hard wheat exports in its November supply/demand reports due out on Thursday.
"People are expecting to see a boost in hard wheat exports, but, at the same time, expecting to offset that with the soft wheat," one cash-connected trader said.
The Kansas City and Minneapolis markets, which trade hard wheat futures, gained ground on Chicago wheat.
The trade did not expect USDA to lower its forecast for US 2005/06 wheat ending stocks. The average analyst estimate for 2005/06 US wheat ending stocks was 537 million bushels, up from the USDA's October forecast for 530 million.
Concerns about dry weather in parts of the US Plains hard red winter wheat belt were supportive to prices. But private forecaster Meteorlogix said scattered showers of 0.10 to 0.50 inch on Saturday would benefit the region, especially Oklahoma and Texas, where rain is needed to support pre-winter growth.