Technical charts for wheat futures reveal a bullish flag pattern forming over the past two weeks, with prices consolidating between $6.11 and $6. Mar 26 KCBT Wheat closed at $5.26 1/4, down 7 cents, currently down 1 1/4 cents In Australia , discussions were limited with an ongoing holiday in Melbourne. Selling ideas for January-shipment Australian Premium White (APW) wheat were heard at $258 per tonne FOB Western Australia (WA). Australian Standard White (ASW) wheat was offered at $248 per tonne FOB WA. Global wheat futures edged higher, with CBOT contracts hitting $6.19, as Australian output estimates dropped by 4% due to El Niño-related dryness. Export demand is expected to rise from Indonesia and the Philippines.