US wheat features end unchanged

US wheat features closed slightly higher on Monday as a weak dollar and rallying stock market sparked a round of mild short covering, traders said. But prices closed well off the intraday highs hit early in the session as the dollar cut its losses, adding pressure to US commodities.
Despite the supportive outside markets, the benchmark Chicago Board of Trade December wheat contract remained near a five-month low due to a bearish fundamental picture. Slow demand for US exports weighed on wheat markets and dragged hard red winter wheat futures at the Kansas City Board of Trade to a lower close. Russian wheat export prices falling due to rising competition. Iraq tendered to buy a minimum of 50,000 tonnes of wheat early on Monday.