CBOT wheat futures lower on weak export sales

Wheat futures on the Chicago Board of Trade fell on Thursday for a fourth straight session, pressured by disappointing export sales and forecasts for beneficial rains in the southern US Plains winter wheat belt, traders said. CBOT September wheat settled down 3 cents at $4.57-3/4 per bushel after touching $4.54-1/4, its lowest since June 15. K.C. September hard red winter wheat ended down 4-3/4 cents at $4.59-3/4, while MGEX September spring wheat fell 9 cents to $7.13-1/4.
Some forecasts called for locally heavy rains over the next 10 days in the southern Plains hard red winter wheat belt, which should recharge soil moisture ahead of planting that will likely begin next month. The US Department of Agriculture reported export sales of US wheat in the latest week at 145,500 tonnes, a marketing year low that fell below a range of trade expectations for 300,000 to 500,000 tonnes.