CBOT wheat sags on concerns over countermeasures to US tariffs

April 3 (Reuters) - Chicago Board of Trade wheat futures weakened on Thursday on worries that U.S. agricultural exports will suffer if other nations retaliate against President Donald Trump's sweeping new tariffs, analysts said.

• Traders were watching for potential retaliatory tariffs from China, Japan and the EU

• A drop in the dollar .DXY helped limit losses as it tends to make U.S. goods look more competitive globally, traders said.

• U.S. wheat export sales in the week ended on March 27 exceeded analysts' estimates at 340,000 metric tons for 2024-25. The sales were up 40% from the prior four-week average, according to the U.S. Department of Agriculture.

• Analysts monitored U.S. weather conditions amid concerns that dryness and frost may threaten wheat crops in the Plains region.

• CBOT May soft red winter wheat WK25 fell 3-1/4 cents to end at $5.36 per bushel.

• K.C. May hard red winter wheat KWK25 finished up 1/2 cent at $5.69 per bushel, and Minneapolis May spring wheat MWEK25 sagged 1-1/4 cents to close at $5.91-1/4 a bushel.