US wheat futures fell on Wednesday, closing near their daily lows on technical selling and forecasts for good crop weather around key growing areas of the United States, traders said. The benchmark Chicago Board of Trade May soft red winter wheat contract ended down 1 percent at $6.36-1/4, its third straight day of losses. Prices hit a one-week low of $6.35-1/2 during the session.
Analysts expect US Agriculture Department's weekly report to show wheat export sales of 400,000 to 500,000 tonnes. Spanish port to receive cargo of 40,000 tonnes of US wheat. Spain normally buys wheat from Black Sea countries. Chinese buyers purchased 350,000 tonnes of feed wheat from Australia, European traders said.