US wheat futures end weaker

US wheat futures closed weak on Tuesday as the dollar firmed, equities declined and a big global stockpile of wheat kept weighing on the market. CBOT July down 1-1/4 cents at $4.67-3/4 per bushel. Funds sold 1,000 contracts. MF Global spread wheat/corn. KCBT July down 2 at $4.88. MGEX July down 1/2 at $5.11-1/4. Algeria buys 500,000 tonnes milling wheat, capitalising on the weak euro.
USDA late Monday said 66 percent of the US winter wheat crop was rated good to excellent, unchanged from a week earlier and up from 48 percent a year ago. USDA said 52 percent of the winter wheat crop was headed, compared with five-year average of 56 percent. CBOT to begin tracking wheat data this week for VSR. Showers in US Plains HRW wheat region boost crop development but also raise concerns about disease.