CBOT wheat hits 2-1/2-month low

Chicago Board of Trade wheat futures fell to a 2-1/2-month low Tuesday, pressured by the expanding US winter wheat harvest and broad weakness across the commodity sector tied to a rapidly escalating US-China trade conflict, brokers said. CBOT July soft red winter wheat settled down 12-1/4 cents at $4.77-3/4 per bushel after falling to $4.67-1/2, its lowest since April 4. K.C. July hard red winter wheat ended down 16-1/2 cents at $4.83 a bushel and MGEX July spring wheat fell 14-1/4 cents at $5.49-1/2.
The US Department of Agriculture late Monday said the US winter wheat harvest was 27 percent complete, ahead of the five-year average of 19 percent. The USDA also rated 78 percent of the US spring wheat crop in good to excellent condition, a jump from 70 percent a week earlier.