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Markets

CBOT wheat falls to 10-month low on cheaper global supplies

Published Updated

* CBOT May soft red winter wheat fell 4-1/2 cents to

$4.68-1/4 a bushel. It fell to the lowest for a most-active contract since April 17 at $4.63-3/4 a bushel.

* K.C. May hard red winter wheat dropped 6 cents to end at $4.44-1/4 a bushel, while MGEX March spring wheat rose 2 cents to $5.55 a bushel.

* Wheat was weighed down by stiff global competition from lower-cost suppliers such as Russia.

* Futures also fell on technical selling. All Chicago and K.C. wheat futures contracts posted contract lows for a second consecutive session.

* Condition ratings for winter wheat declined from late November to late February across much of the US Plains, the US Department of Agriculture said on Monday.

Copyright Reuters, 2019