Chicago Board of Trade soft red winter wheat futures eased on Thursday, weighed down by a mild technical setback. K.C. hard red winter wheat also closed lower but MGEX spring wheat firmed. MGEX contracts were supported by bargain buying after nearing a four-month low hit earlier this week.
The benchmark CBOT December soft red winter wheat contract firmed early but turned lower after failing to break through its 40-day moving average. Rainfall in the southern US Plains, key growing areas for the hard red winter wheat crop, also pressured prices.