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Chicago Board of Trade wheat futures closed lower on Thursday on technical selling and profit-taking a day after the December contract reached $5.19-1/2 a bushel, its highest since November 7. CBOT December soft red winter wheat settled down 6-1/2 cents at $5.09 per bushel, halting a three-session rally.
K.C. December hard red winter wheat ended down 5 cents at $4.21 a bushel and MGEX December spring wheat fell 6 cents to finish at $4.95-1/4.
The US Department of Agriculture reported export sales of US wheat in the week ended Nov. 14 at 437,700 tonnes, in line with trade expectations for 200,000 to 500,000 tonnes.