Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.
The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots.
The CBOT's most-active soft red winter wheat contract fell in overnight trading, following corn and soybeans lower despite a tighter global wheat stocks picture reported.
Ukraine's grain exports are down 20% from the same period last year, at 29.8 million tonnes.
We are going to need to ration. The extent of how much we're going to need to ration is probably going to be a function of the weather that we see in Argentina.
Strength in corn supportive to wheat futures but profit-taking noted as most-active contract hit fresh six-year peak during the overnight trading session.
Corn futures expected to rally for the 15th day in a row as most-active contract hit highest in 6-1/2 years overnight
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 12 ringgit, or 0.34%, to 3,530 ringgit ($871.60) a tonne during early trade.