CBOT wheat sags under pressure from plentiful world supply
CHICAGO, Nov 20 (Reuters) - Chicago Board of Trade wheat futures closed lower on Thursday under pressure from ample global supplies, analysts said.
CBOT March soft red winter wheat WH26 settled 8-3/4 cents lower at $5.40-3/4 per bushel.
K.C. March hard red winter wheat KWH26 ended down 4-1/2 cents at $5.23-3/4 per bushel, and Minneapolis March spring wheat MWEH26 was last down 5-1/4 cents at $5.80-1/2 per bushel.
The International Grains Council raised its 2025/26 world wheat production estimate to 830 million metric tons, up 3 million from its previous forecast.
The U.S. Department of Agriculture confirmed private sales of 132,000 metric tons of U.S. white wheat to China for delivery in the 2025/26 marketing year that began June 1.
Separately, the USDA reported export sales of U.S. wheat for the week ended October 2 at 887,900 metric tons, topping a range of trade expectations for 350,000 to 600,000 tons.
Traders waited for the results of an international tender for about 300,000 metric tons of hard milling wheat from Saudi Arabia's state grains buying agency.
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