Nearby spring wheat futures contracts on the Minneapolis Grain Exchange fell the 60-cent limit past midday on Monday, pressured by bear-spreading and a softening cash market for spring wheat, traders said. The May/July spread was trading at an inverse of $1.80, premium May, down from $2.10 on Friday, they said.
As of 12:47 pm CDT (1747 GMT), MGE May wheat was down its 60-cent limit at $12.32 per bushel. Chicago Board of Trade May wheat was down 3-1/2 cents at $8.93 and Kansas City Board of Trade May wheat was down 8-3/4 cents at $9.45.