US wheat closer lower ahead of USDA report

CHICAGO: US wheat futures fell on Thursday due to light export sales and positioning ahead of the government's monthly supply and demand report, traders said.

* Some forecasts for improved moisture in the US Plains added further pressure. Hard red winter wheat futures notched the biggest declines, with the March contract shedding 1.1 percent.

* The US Agriculture Department said on Thursday morning that weekly export sales of wheat were 300,800 tonnes, near the low end of forecasts for 300,000 to 500,000 tonnes. A week ago, wheat export sales were 387,900 tonnes.

* Analysts are expecting the USDA's monthly crop report on Friday to show US wheat ending stocks of 727 million bushels, up from the government's January estimate of 716 million.

* Tunisia's state grains agency bought 92,000 tonnes of soft wheat at prices ranging from $354 to $360.25 a tonne C&F for March shipment, traders said.

* Bangladesh tendered to buy 50,000 tonnes of wheat to boost reserves, a procurement official said.

* A cargo of 20,000 to 25,000 tonnes of North American soft wheat will be shipped to Britain shortly with a poor quality domestic harvest forcing millers to look to imports, trade sources said.