CBOT wheat hits lifetime lows on ample global supply
CHICAGO, Oct 13 (Reuters) - Chicago Board of Trade wheat futures sank to contract lows on Monday on large global supplies, global harvest pressure and a lack of weather problems in wheat-producing countries.
CBOT December soft red winter wheat WZ25 settled 1-3/4 cents lower at $4.96-3/4 per bushel.
K.C. December hard red winter wheat KWZ25 ended 1-3/4 cents lower at $4.81-1/4 a bushel.
Minneapolis December spring wheat MWEZ25 ended 1/4 cent lower at $5.51-1/2 per bushel.
Wheat export competition is intensifying with Russian exports increasing.
Euronext wheat futures fell slightly on Monday as traders weighed abundant global supply, a drop in the euro and a steadying in Chicago futures as U.S. President Donald Trump softened his tone toward China.
Grain consultancy Sovecon said on Friday it had raised its forecast for Russia's wheat crop in 2025 to 87.8 million metric tons, up from a previous forecast of 87.2 mmt, reflecting record yields in Siberia.
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