Chicago Board of Trade wheat futures declined on Wednesday as rainy weather in parts of the US Plains wheat belt was seen boosting crops following a serious drought this winter. CBOT March soft red winter wheat fell 2 cents to $4.47-1/4 a bushel, touching a two-week low of $4.45-1/2 during the session. March K.C. hard red winter wheat dropped 6 cents to $4.65-3/4 a bushel, while March spring wheat shed 1-1/4 cents to $6.01-1/4 a bushel.
Wide areas of Texas and Oklahoma received rainfall this week, but top wheat state Kansas was largely missed. Egypt's GASC said it bought 120,000 tonnes of wheat via a snap tender on Wednesday. Traders said the wheat was Russian as Black Sea origin grain continues to dominate global markets.