CHICAGO: Chicago Board of Trade (CBOT) wheat futures fell for the second consecutive session on Tuesday to a 10-month low as cheaper global supplies weighed on the US market.
* CBOT May soft red winter wheat fell 4-1/2 cents to
$4.68-1/4 a bushel. It fell to the lowest for a most-active contract since April 17 at $4.63-3/4 a bushel.
* K.C. May hard red winter wheat dropped 6 cents to end at $4.44-1/4 a bushel, while MGEX March spring wheat rose 2 cents to $5.55 a bushel.
* Wheat was weighed down by stiff global competition from lower-cost suppliers such as Russia.
* Futures also fell on technical selling. All Chicago and K.C. wheat futures contracts posted contract lows for a second consecutive session.
* Condition ratings for winter wheat declined from late November to late February across much of the US Plains, the US Department of Agriculture said on Monday.
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