CBOT wheat sets two-week low as US harvest progresses

CHICAGO, July 15 (Reuters) - Chicago Board of Trade wheat futures touched a two-week low on Tuesday under pressure from U.S. harvests that were bringing in fresh supplies, analysts said.

• The nation's winter wheat harvest was 63% complete as of Sunday, with farmers in top-producing state Kansas 93% finished, the U.S. Department of Agriculture said after trading ended on Monday.

• The condition of the U.S. spring wheat crop improved by more than analysts expected in the past week. The USDA rated 54% of the crop in good to excellent condition, up from 50% a week earlier and above all trade estimates.

• In global demand news, Algerian state grains agency OAIC had bought about 1 million metric tons of milling wheat in an international tender, European traders said.

• CBOT September soft red winter wheat WU25 closed down 3-1/2 cents at $5.38 per bushel and touched its lowest price since June 30.

• K.C. September hard red winter wheat KWU25 ended up 3/4 cent at $5.23-3/4 a bushel.

• Minneapolis September spring wheat MWEU25 was last down 2-1/2 cents at $6.01-1/4 a bushel, after setting its lowest price since May 20.