CBOT wheat futures lower on big supply

Chicago Board of Trade wheat futures fell for a fourth straight session on Thursday, pressured by ample supplies and beneficial rains in the US Plains winter wheat belt, traders said. The US Department of Agriculture reported weekly export sales of old-crop wheat at 418,500 tonnes and sales of new-crop wheat at 149,800 tonnes, in line with trade expectations. K.C. hard red winter wheat futures, which track crops grown in the Plains states, fell 4-1/2 cents and also hit a 2-1/2-month low. MGEX wheat gained 3 cents on good demand for the high-protein variety.