CBOT wheat ends lower on profit taking, harvest pressure

CHICAGO, July 3 (Reuters) - Chicago Board of Trade soft red winter wheat futures retreated on Thursday after two sessions of strong gains on profit-taking and positioning ahead of the long U.S. Independence Day holiday weekend and as the winter crop harvest progressed, traders said.

• Markets will be closed on Friday for the holiday.

• CBOT September soft red winter wheat WU25 settled down 7-1/4 cents at $5.56-3/4 per bushel. The benchmark contract was up 3% in the week.

• K.C. September hard red winter wheat KWU25 last traded 6-1/4 cents lower at $5.36 a bushel.

• Minneapolis September spring wheat MWEU25 fell 1-3/4 cents to $6.47-1/4 a bushel and CBOT September hard red spring wheat HRSU25 last traded down 6 cents at $6.29 per bushel.

• Abundant global supplies are hanging over the wheat market, with the U.S. winter crop progressing while crops in Europe and the Black Sea region are expected to be sizeable despite harsh weather.

• Ukraine will start exporting wheat from the 2025 harvest in mid-July and its export prices could rise by $20 to $30 per metric ton later this year, reflecting a global shortage of supply, a producers' union UAC said on Thursday.