CBOT wheat ends nearly flat after recently setting contract lows

May 1 - Chicago Board of Trade wheat futures ended nearly flat on Thursday after recently setting contract lows.

• Traders assessed weather conditions for winter wheat crops, which will be harvested in the coming months, and for plantings of spring wheat.

• Recent rain has boosted soil moisture in the southern Plains, where hard red winter wheat is grown, and more is expected next week, weather firm Vaisala said.

• Warm and dry weather will favor spring wheat planting in the northern Plains, Vaisala said.

• CBOT July soft red winter wheat WN25 closed up 1/4 cent at $5.31 per bushel. The contract on Wednesday set a low of $5.23-1/4.

• K.C. July hard red winter wheat KWN25 ended down 2 cents at $5.27-1/2 per bushel after earlier reaching a contract low of $5.25 per bushel.

• Minneapolis July spring wheat MWEN25 sagged 1-1/2 cents to end at $5.95-1/2a bushel.

• The U.S. Department of Agriculture said weekly net export sales of U.S. wheat were 72,000 metric tons for 2024-25, down 24% from the prior four-week average.

• Analysts' expectations ranged from net cancellations of 200,000 metric tons to net sales of 300,000 metric tons for wheat.