Wheat futures on the Chicago Board of Trade fell on Thursday on technical selling, with additional pressure from lackluster demand for soft red winter wheat, the type traded in Chicago, traders said. CBOT September wheat settled down 5-1/2 cents at $4.16-1/4 per bushel and lost ground to back months on spreads. By contrast, K.C. hard red winter wheat and MGEX spring wheat futures settled steady to higher, supported by strong weekly export sales of both types of wheat.
The US Department of Agriculture reported export sales of all US wheat in the latest week at 607,600 tonnes, topping trade expectations for 350,000 to 550,000 tonnes. Of the weekly total, sales of hard red winter wheat were 268,100 tonnes and sales of hard red spring were 90,800 tonnes. Sales of soft red winter were 80,800 tonnes.