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Chicago Board of Trade wheat futures dropped on Thursday as fears over the spread of the coronavirus triggered broad selling, traders said. A drop in wheat prices in top exporter Russia added pressure to US markets, traders said. Russia's Agriculture Ministry said it sees the 2020 grain crop at 125.3 million tonnes, which would be up from an estimated 120.7 million last year.
The US Department of Agriculture said total weekly US wheat sales of 647,000 tonnes were near the high end of expectations. Egypt's state grains buyer said it had bought 180,000 tonnes of French wheat in a tender for shipment March 11 to 25.