CHICAGO: US wheat futures fell on Thursday, led lower by declines in MGEX spring wheat contracts after the US Agriculture Department raised its projection for US wheat acreage.
* Spring wheat acres seen rising sharply from a year ago, when flooding in the northern US Plains curtailed planting efforts.
* USDA forecast US wheat plantings at 58 million acres, up 3.6 million acres from 2011. USDA pegged world wheat stocks at record 213.1 million tonnes.
* International Grains Council raised forecast for world wheat production by 5 million tonnes to record 695 million tonnes. World stocks seen at record 211 million tonnes, according to IGC forecast.
* Analysts expecting weekly USDA report to show export sales of wheat in range from 500,000 to 900,000 tonnes compared with 427,900 tonnes in the prior week.
* Spain bought 85,000 tonnes of US wheat to use as animal feed but additional cargoes in doubt because of competition from European and Black Sea countries.
* Iran bought 800,000 tonnes of wheat from Russia and Australia and paid a premium over international prices, European traders said.
* Tunisia bought 50,000 tonnes of optional-origin soft wheat for $291.91 to $295.65 a tonne, including cost and freight.
* Iraq bought 400,000 tonnes of Canadian wheat in a tender for 50,000 tonnes for $350.45 to $360.25, including cost and freight.
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