CBOT wheat ends nearly flat, anchored by plentiful global supplies

CHICAGO, Dec 9 (Reuters) - Chicago Board of Trade wheat futures closed fractionally lower on Tuesday, anchored by ample global grain supplies, traders said.

• CBOT March soft red winter wheat WH26 settled down 1/4 cent at $5.34-1/2 per bushel.

• K.C. March hard red winter wheat KWH26 ended up 1/2 cent at $5.27 a bushel and Minneapolis March spring wheat MWEH26 rose 5 cents to finish at $5.76-1/4 a bushel.

• The U.S. Department of Agriculture left its U.S. wheat balance sheet unchanged in a monthly supply/demand report, but raised its forecast of global wheat ending stocks for the 2025/26 marketing year to 274.87 million metric tons, from 271.43 million in November and near the high end of a range of trade expectations.

• The USDA raised its wheat production forecasts for several major global exporters including Canada, Argentina, Russia and Australia.

• Argentina plans to lower export taxes on grains, soybeans and soy products in the coming days, heightening competition for global export business. Argentine export taxes on wheat and barley will be reduced to 7.5% from 9.5%.

• Indian farmers have ramped up planting of winter crops including wheat, putting the country on track for record acreage as abundant soil moisture enables expanded cultivation.