US wheat futures fell for a third straight day on Wednesday, pressured by ample global supplies and technical selling, traders said. Milder weather in eastern Midwest soft red winter wheat production areas and the southern Plains hard red winter wheat belt eased worries about crop-damaging frost.
The actively traded Chicago Board of Trade March contract fell 3-3/4 cents, or 0.9 percent, to $3.99-1/2 a bushel. The contract hit a two-week low during the trading session and closed below the crucial $4-per-bushel mark for the first time since December 1. Hard red winter wheat and spring wheat futures also closed lower. Analysts polled ahead of Thursday's weekly US Department of Agriculture export sales report estimated last week's wheat sales at 300,000 to 500,000 tonnes for 2016/17 shipment and 0 to 50,000 tonnes for 2017/18.