Chicago Board of Trade wheat futures closed lower on Monday on spillover pressure from declines in corn and soyabean futures, traders said. CBOT December soft red winter wheat settled down 5 cents at $4.72-1/2 per bushel. K.C. December hard red winter wheat ended down 2-3/4 cents at $4.06-3/4 a bushel and MGEX December spring wheat fell 1-1/2 cents to $5.17.
Ahead of the US Department of Agriculture's weekly crop progress report, analysts surveyed by Reuters on average expected the USDA to show the US spring wheat harvest as 21% complete, up from 8% a week ago, and the winter wheat harvest as 94% complete, up from 89%.
The USDA reported export inspections of US wheat in the latest week at 488,905 tonnes, in line with trade expectations. Morocco's state grains agency announced a tender to buy 576,000 tonnes of milling wheat and 345,455 tonnes of durum wheat from the United States under a preferential-tariff quota.