CBOT wheat retreats on weak USDA export sales data

• CBOT December soft red winter wheat settled 4-3/4 cents lower at $5.16 per bushel.
• The US Agriculture Department reported weekly wheat export sales of 262,400 tonnes.

CHICAGO: Chicago Board of Trade wheat futures fell on Thursday after the US Department of Agriculture reported weekly export sales below trade expectations, traders said.

CBOT December soft red winter wheat settled 4-3/4 cents lower at $5.16 per bushel.

K.C. December hard red winter wheat closed down 3-3/4 cents at $4.19-1/2 a bushel while MGEX December spring wheat was down 2-1/4 cents at $5.40 a bushel.

The US Agriculture Department reported weekly wheat export sales of 262,400 tonnes.

Analysts had expected wheat export sales of 300,000 tonnes to 600,000 tonnes.

The International Grains Council on Thursday trimmed its forecast for global wheat production in the 2019/20 season by 2 million tonnes due to drought in Australia.