Chicago Board of Trade wheat futures ended lower for the fourth time in five sessions on Monday on technical selling and spillover pressure from slumping soybeans. CBOT May wheat settled down 4-3/4 cents at $4.46-1/4 per bushel.
The contract briefly rose above its 100-day moving average but failed to hold support above the key technical point. K.C. May hard red winter wheat ended up 1/4 cent at $4.67-1/2 a bushel, underpinned by worries about dry conditions in parts of the US Plains wheat belt.
MGEX May spring wheat ended down 5 cents at $5.73-1/2 a bushel, its lowest in 11 months.
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