CBOT wheat ends down, following corn and soybeans lower

CHICAGO, March 3 (Reuters) - Chicago Board of Trade wheat futures closed lower on Monday, retreating from early advances as corn and soybean futures declined on rising trade tensions and expectations of large South American crops, traders said.

• CBOT May soft red winter wheat WK25 settled down 8 cents at $5.47-3/4 per bushel.

• K.C. May hard red winter wheat KWK25 ended down 11 cents at $5.62 a bushel and Minneapolis May spring wheat MWEK25 fell 6-1/2 cents at $5.91-1/4 a bushel.

• The Australian government raised its estimate of the country’s 2024/25 wheat crop to 34.1 million metric tons, up 2.2 million from its previous estimate of 31.9 million, released in December.

• Russian wheat export prices declined last week due to weak demand and shrinking margins for exporters, despite expectations of lower March shipments, analysts said.

• Euronext wheat fell to its lowest in around 3-1/2 months, weakened by a jump in the euro against the dollar and fresh losses for Chicago grains amid worries over the trade repercussions from U.S. tariffs.

• The U.S. Department of Agriculture reported export inspections of U.S. wheat in the latest week at 389,593 metric tons, in line with trade expectations for 250,000 to 550,000 tons. USDA/I