Hard red winter wheat futures on the Kansas City Board of Trade ended more than 1 percent lower on Monday amid harvest pressure and losses in outside markets. July ended down 11 cents, or 1.2 percent, at $9.04 a bushel, after falling as low as $8.91, while September closed down 12-1/4 cents at $9.13-3/4, after sliding to $9.03 and trading up to $9.27-1/2.
Wheat slides to its lows amid declines in soyabean and corn futures at the Chicago Board of Trade, then pared losses as corn steadied and finally ended higher. Harvesting in the top US wheat-producing state of Kansas seen weighing on prices as harvest weather improves. Rains allowed Argentine farmers to seed 2008/09 wheat last week in some areas, but persistent dry conditions elsewhere could force some to abandon the crop altogether, the Buenos Aires Grains Exchange said.
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