CBOT wheat ends down on profit-taking

CHICAGO: Chicago Board of Trade soft red winter wheat futures closed lower on Monday on profit-taking and position-squaring ahead of the release Friday of USDA's March supply/demand and world crop production reports.

* KCBT HRW wheat closed lower on profit-taking and MGEX spring wheat ended higher on tight stocks of high protein spring wheat.

* Some underpinning to wheat stemmed from a weak dollar and on spillover support from gains in corn.

* The Iraqi Grain Board has issued an international tender to purchase 50,000 tonnes of wheat from any origin excluding Romania, European traders said on Monday.

* Australia's wheat output is likely to slide more than 15 percent in 2012/13 from a record-large crop this year as lower global prices may prompt farmers to shift to other crops such as canola and barley.

* Large speculators cut their net short position in wheat from a record high during the week ended last Tuesday - CFTC.

* Light deliveries on the March contract with a Newedge customer issuing 3 lots.

* Key support for March at its 50-day moving average of $6.40-1/2 and resistance at the 200-day ma of $7.06. The nine-day RSI was at 63.