CBOT wheat lower on ample global supply
CHICAGO, Oct 10 (Reuters) - Chicago Board of Trade wheat futures ticked lower on Friday on global harvest pressure and ample global supply.
CBOT December soft red winter wheat WZ25 settled 10 cents lower to end at $4.98-1/2 per bushel.
K.C. December hard red winter wheat KWZ25 ended 6-3/4 cents lower at $4.83 a bushel.
Minneapolis December spring wheat MWEZ25 ended 5-1/4 cents lower at $5.51-3/4 per bushel.
Grain consultancy Sovecon raised its forecast for Russia's wheat crop in 2025 to 87.8 million metric tons, up from a previous forecast of 87.2 million, reflecting record yields in Siberia.
Farmers in France planted 5% of the planned soft wheat area for next year's harvest by October 6, as well as 10% of the expected winter barley area, farm office FranceAgriMer said.
Record projected global supply of wheat, including large harvests expected in Argentina and Australia in the coming weeks, hung over the wheat market.
Wheat briefly rallied on Thursday, supported by news of a Russian strike on port facilities in Ukraine, and a Russian government estimate that the country's farmers could reduce wheat planting by over 6% for next year's harvest.
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