CBOT wheat futures lower on technical selling

Chicago Board of Trade wheat futures closed lower on Tuesday, retreating from early advances on technical selling and disappointing weekly export data, traders said. CBOT December wheat settled down 3/4 cent at $4.35-1/4 per bushel.
K.C. December hard red winter wheat ended up 1/2 cent at $4.31-1/4 a bushel while MGEX December spring wheat fell 5-3/4 cents at $6.17-1/2. The US Department of Agriculture reported export inspections of US wheat in the latest week at 350,632 tonnes, below a range of trade expectations for 400,000 to 600,000 tonnes. Recent rains in the US Plains and Midwest winter wheat regions have bolstered prospects for the 2018 crop.