CBOT wheat ends lower on technical selling, big global supplies
CHICAGO, Oct 7 (Reuters) - Chicago Board of Trade wheat futures fell for a second straight day on Tuesday on technical selling and pressure from abundant global supplies.
CBOT December soft red winter wheat WZ25 settled 6 cents lower at $5.06-3/4 per bushel after failing to break through overhead technical resistance at its 20-day moving average.
K.C. December hard red winter wheat KWZ25 last traded down 4-1/2 cents at $4.91 a bushel.
Minneapolis December spring wheat MWEZ25 fell 3-1/2 cents to finish at $5.52 a bushel.
U.S. winter wheat planting was estimated to be 50% finished as of Sunday, according to an average of nine analysts polled by Reuters on Monday. The U.S. Department of Agriculture did not release its weekly crop progress estimate on Monday afternoon due to the government shutdown.
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