US wheat futures closed lower on Thursday on profit-taking, a firm dollar, a low number for wheat in the USDA's weekly export sales report and improved crop weather in the United States and in China. CBOT March down 23-1/4 cents at $8.62-3/4 per bushel. Funds sold an estimated net 4,000 contracts.
Volume estimated at 150,063 contracts, up from 30-day average of 86,479, according to Reuters data. KCBT March down 20 cents at $9.68. After the close of trading, Egypt's GASC set a tender for wheat for April 1-10 shipment. The USDA on Thursday said export sales of US wheat last week totalled 507,300 tonnes, within a range of estimates for 500,000 to 700,000 tonnes. Algeria's state grains agency bought at least 200,000 tonnes of milling wheat in a tender - European traders. Afghanistan to tender to buy 200,000 tonnes of wheat.
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