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CBOT wheat ends lower on technical selling; KCBT steady to firm

wheat--CHICAGO: Chicago Board of Trade wheat futures fell for the second day in a row on Wednesday, pressured by technical selling and poor export demand, traders said.


* Prices for the benchmark CBOT March soft red winter wheat contract failed to hold support above the contract's 30-day moving average, which it briefly eclipsed early on Wednesday.


* Hard red winter wheat futures at the Kansas City Board of Trade were mostly flat to up slightly due to worries about crop development.


* Dry weather in the US Plains continues to cause concern about harm to the already drought-stricken hard red winter wheat crop, said Joel Widenor, meteorologist for Commodity Weather Group.


* Bangladesh's state grains buyer received the lowest bid at $322 per tonne from a Korea-based company for its tender to buy 50,000 tonnes of wheat, officials from the state agency said on Wednesday.


* Japan's Ministry of Agriculture has bought 17,800 tonnes of feed wheat in a tender. The ministry has said it seeks to buy 120,000 tonnes of feed wheat.


* The Korea Feed Association (KFA) bought 55,000 tonnes of feed wheat likely to be sourced from India in a snap, European traders said.


Copyright Reuters, 2013


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