CBOT wheat off 2.9pc, breaks 2-session win streak
CHICAGO: US wheat futures fell on Thursday, with the benchmark Chicago Board of Trade contract notching its biggest percentage decline in three weeks, amid forecasts for improving crop weather.
Some cooler temperatures across the United States were forecast for next week, providing relief to a spring wheat crop that had the potential to be harmed by prolonged high temperatures.
Concerns about US wheat's competitiveness on the export market also added to the weakness in futures.
The US Agriculture Department said on Thursday morning that export sales of wheat were 403,500 tonnes, in line with estimates for 300,000 to 500,000 tonnes.
Iraqi Grain Board tendered to buy at least 100,000 tonnes of wheat from any origin. Jordan's state grain buyer seeking 50,000 tonnes of hard wheat.
Copyright Reuters, 2011
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