US wheat futures eased about 1 percent on Tuesday in spreading and technically driven trade amid abundant global supplies, traders said. The thinly traded front-month Chicago Board of Trade December wheat contract finished 4-1/4 cents lower at $4.06 per bushel, just above its lifetime low of $4.05-1/4 notched on November 28.
Most-active CBOT March wheat was down 2-1/2 cents at $4.32-3/4 cents. K.C. March hard red winter wheat ended down 2-1/2 cents at $4.31-1/2 a bushel and MGEX March spring wheat was off 2-3/4 cents to $6.26-1/4.
The CME Group reported 247 deliveries against CBOT December soft red winter wheat futures and 12 K.C. hard red winter wheat deliveries. The MGEX reported 14 December spring wheat deliveries.
Copyright Reuters, 2017
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