CBOT wheat weakens on technical selling

CHICAGO, Aug 18 (Reuters) - Chicago Board of Trade wheat futures ticked lower on technical selling on Monday, though an uptick in export demand has provided underlying support.

• Export sales of U.S. wheat have remained relatively strong, despite abundant world supplies of the grain.

• Traders are closely eyeing new developments in the deal-making process to end Russia's war in Ukraine.

• Ukrainian President Volodymyr Zelenskiy said on Monday he was ready to work to end the war with Russia ahead of talks with Trump in Washington, where he could face pressure to accept terms favorable to Moscow. European leaders have arrived at the White House ahead of the meeting.

• Ukraine and Russia are major grain exporters.

• The U.S. Department of Agriculture was expected to rate 49% of the U.S. spring wheat crop in good to excellent condition, unchanged from a week ago, while the harvest was seen at 30% complete, up from 16% a week earlier, a Reuters poll of nine analysts reported. The winter wheat harvest was expected to be 95% finished as of Sunday, up from 90% a week earlier.

• CBOT September soft red winter wheat WU25 settled 3-3/4 cents lower at $5.02-3/4 per bushel.

• K.C. September hard red winter wheat KWU25 last traded 3/4 cent lower at at $5.06-1/4 a bushel.

• Minneapolis September spring wheat MWEU25 settled 2-1/4 cents lower at $5.67-3/4 a bushel.