Chicago Board of Trade wheat futures fell on Monday, following declines in soyabeans and wheat, traders said. CBOT March wheat settled down 6-1/2 cents at $4.14 per bushel after touching a 2-1/2 week low at $4.12-3/4. K.C. March hard red winter wheat ended down 8-1/2 cents at $4.25-3/4 a bushel and MGEX March spring wheat fell 8-3/4 cents at $5.51-1/4.
The US Department of Agriculture reported export inspections of US wheat in the latest week at 321,479 tonnes, in line with trade expectations for 200,000 to 400,000 tonnes.
Russian wheat prices rose for a third week due to demand from Egypt, a stable rouble and farmers holding on to their goods in the expectation of further price growth, analysts said. Algeria's state grains agency OAIC issued a tender to buy a nominal 50,000 tonnes of optional-origin milling wheat for April shipment, European traders said.