CBOT wheat slips on concerns over tariffs hurting US farm exports

April 2 (Reuters) - Chicago Board of Trade wheat futures sagged on Wednesday on fears that President Donald Trump will escalate a trade war and hurt U.S. agricultural exports with the announcement of new tariffs, analysts said.

• Trump's announcement, set for later on Wednesday, is expected to lead to countermeasures from U.S. allies.

• The U.S. Department of Agriculture, in weekly data on U.S. wheat export sales on Thursday, is expected to report a net cancellation of 100,000 metric tons to net sales of 300,000 metric tons for 2024-25, according to analysts polled by Reuters.

• CBOT May soft red winter wheat WK25 eased 1-1/4 cents to end at $5.39-1/4 per bushel.

• K.C. May hard red winter wheat KWK25 ended up 3-1/4 cents at $5.68-1/2 per bushel, and Minneapolis May spring wheat MWEK25 dropped 1-1/2 cents to $5.92-1/2 a bushel.

• Concerns about unfavorable crop weather, including dryness in the U.S. Plains, helped support K.C. wheat, analysts said.