CHICAGO: Chicago Board of Trade wheat closed lower Monday on technical selling and a lack of fresh supportive news, traders said.
CBOT December wheat settled down 5-1/2 cents at $4.43-1/2 per bushel. The contract reached a one-month high at $4.50-3/4 in early moves but turned lower after failing to find follow-through buying.
K.C. December hard red winter wheat ended down 3-3/4 cents at $4.42-1/4 a bushel while MGEX December spring wheat rose 3/4 cent at $6.22-1/4.
Traders continue to monitor the effects of recent dryness and cold weekend temperatures in Australia's wheat belt.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters expected the government to report the US winter wheat crop as 14 percent planted.
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