CBOT wheat ends lower on muted export demand, weakness in corn and soy

CHICAGO, Jan 16 (Reuters) - Chicago Board of Trade wheat futures closed lower on Thursday on sluggish global export demand and spillover weakness from declines in corn and soybean futures, traders said.

• CBOT March soft red winter wheat WH25 settled down 9-1/2 cents at $5.37-1/2 per bushel, dropping below chart support at its 20-day moving average.

• K.C. March hard red winter wheat KWH25 ended down 9-1/4 cents at $5.48-1/4 a bushel and Minneapolis March spring wheat MWEH25 fell 6 cents at $5.81-1/2 a bushel.

• Traders shrugged off better-than-expected weekly U.S. export sales. The U.S. Department of Agriculture reported export sales of U.S. old-crop wheat in the week ended Jan. 9 at 513,400 metric tons, above a range of trade expectations for 150,000 to 400,000 tons. EXP/WHE

• Euronext wheat dropped for a third day in a row to reach a six-week low as concern over weak export demand lingered.

• The International Grains Council (IGC) projected the 2025/26 wheat crop at a record 805 million metric tons, up 1% year-on-year, but said projected gains in consumption could result in a further drawdown in end-season stocks. The IGC left its 2024/25 world harvest estimate at 796 million tons.

• Egypt's state grains buyer, Mostakbal Misr, has signed several wheat supply agreements with European grain producers in a move intended to secure favorable prices and diversify the nation's wheat sources, it said in a statement.

(Reporting by Julie Ingwersen; editing by Diane Craft)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))