US wheat futures fell Thursday on spillover pressure from soybeans and corn and follow-through selling tied to bearish data in Wednesday's monthly reports from the US Department of Agriculture, traders said. Chicago Board of Trade September wheat settled down 25-1/4 cents at $5.11-3/4 per bushel.
K.C. September hard red winter wheat ended down 28-1/2 cents at $5.15-1/2 a bushel and MGEX September spring wheat fell 33-1/4 cents at $7.49-1/2.
The USDA on Wednesday raised its forecasts of global ending stocks for 2016/17 above a range of trade expectations, and its figure for US 2016/17 all-wheat production came in above the average trade estimate. The USDA on Thursday reported export sales of US wheat in the latest week at 357,700 tonnes, in line with trade expectations for 300,000 to 500,000 tonnes. The CME Group reported 69 CBOT wheat deliveries and 11 K.C. wheat deliveries against July futures contracts, which expire on Friday. The MGEX reported no July spring wheat deliveries.
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