Northern Hemisphere harvests weigh on CBOT wheat
CHICAGO, July 14 (Reuters) - U.S. wheat futures stumbled on Monday as the expanding harvests in the Northern Hemisphere weighed on prices, traders said.
The U.S. Department of Agriculture is expected to report the nation's winter wheat harvest is 64% complete in a report due at 3 p.m. CDT (2000 GMT), up from 53% last week, analysts said in a Reuters poll.
Harvests in France and Germany are also gathering pace.
Big buyer Algeria issued a wheat purchase tender with price offers to be submitted on Tuesday. Traders tipped Black Sea wheat to be the main supplier.
The Taiwan Flour Millers' Association issued an international tender to purchase an estimated 89,650 metric tons of grade 1 milling wheat to be sourced from the United States, European traders said.
CBOT September soft red winter wheat WU25 closed down 3-1/2 cents at $5.41-1/2 per bushel and touched its lowest price since July 1.
K.C. September hard red winter wheat KWU25 ended down 1-1/4 cents at $5.23 a bushel.
Minneapolis September spring wheat MWEU25 was last down 10 cents at $6.03-3/4 a bushel.
The USDA is expected to rate 50% of the U.S. spring wheat crop in good-to-excellent shape, unchanged from the prior week, analysts said.
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