CBOT wheat sinks on light demand, ample world supply

CHICAGO: US wheat futures declined for a fourth straight session on Monday as plentiful global supplies and weak demand for US shipments weighed on prices, traders said.

CBOT wheat March, May, July and September futures hit new contract lows. The new-crop contracts fell despite expectations for reduced plantings of soft red winter wheat this season.

September K.C. wheat also posted a contract low.

Analysts polled ahead of the USDA's weekly crop progress report expect the US winter wheat planting to be 85 percent complete.