CHICAGO: Chicago Board of Trade wheat futures ended lower on Tuesday on profit-taking a day after the CBOT December contract surged roughly 3.5 percent to a three-week high on export optimism and fund-driven short-covering.
* Broad declines in commodities add pressure. The 19-market Thomson Reuters/CoreCommodity Index fell 1.8 percent, hitting its lowest level since December.
* CBOT December soft red winter wheat settled down 12 cents at $5.07-3/4 per bushel but stayed inside of Monday's trading range.
* K.C. December hard red winter wheat ended down 7 cents at $4.86-1/2 a bushel and MGEX December spring wheat fell 4-1/4 cents at $5.78-1/4.
* Iraq, a major Middle East grain buyer traditionally reliant on US imports, wants to allow Russian-origin wheat in its state buying tenders.
* Traders monitoring a cold spell in the US Midwest and Plains that has stalled planting of the last of the winter wheat crop.
* Ahead of the US Department of Agriculture's weekly crop progress report, analysts surveyed by Reuters on average expected the government to report the US winter wheat crop as 90 percent planted, up from 84 percent a week earlier.
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