Wheat futures on the Chicago Board of Trade fell on Wednesday for a second straight session as strength in the dollar underscored weak export prospects for US supplies. The dollar firmed on stronger-than-expected US durable goods data. K.C. hard red winter wheat closed fractionally higher on bargain buying while MGEX spring wheat futures closed mixed.
MGEX spring wheat pressured by harvest progress in the northern US Plains and Canada. The spot MGEX contract fell to a fresh five-year low at $4.92 before paring losses. Analysts expect a US Agriculture Department report on Thursday to show weekly wheat export sales for 2015/16 delivery between 225,000 and 400,000 tonnes, compared with the previous week's total of 314,442 tonnes.
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