CHICAGO: US wheat futures were mostly lower on Monday, pressured by spreading and technical selling amid abundant global grain supplies, traders said.
Chicago Board of Trade March soft red winter wheat settled down 3-1/4 cents at $4.35-1/4 per bushel.
K.C. March hard red winter wheat ended down 3-1/2 cents at $4.34 a bushel Friday and MGEX March spring wheat eased 2-1/2 cents at $6.29.
Wheat contracts reversed lower after gains earlier in the session and late last week that were tied to short-covering.
European wheat prices were about flat, underpinned by a Saudi purchase that is expected to include European origins providing support, traders said.
The CME Group reported 3,957 deliveries against CBOT December soft red winter wheat futures and 638 K.C. hard red winter wheat deliveries. The MGEX reported 225 December spring wheat deliveries.
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