CBOT wheat ends lower, pressured by ample world supplies

CHICAGO, Dec 10 (Reuters) - Chicago Board of Trade wheat futures fell about 1% on Wednesday, with the benchmark contract hitting its lowest level since late October on reminders of rising global supplies of the food grain, analysts said.

• CBOT March soft red winter wheat WH26 settled down 5 cents at $5.29-1/2 per bushel after dipping to $5.25-1/4, its lowest level since October 23.

• K.C. March hard red winter wheat KWH26 ended down 3-3/4 cents at $5.23-1/4 a bushel and Minneapolis March spring wheat MWEH26 settled down 1 cent at $5.75-1/4 a bushel.

• Traders continue to digest the U.S. Department of Agriculture's monthly supply/demand report released on Tuesday in which the agency raised its forecast of world ending stocks more than most analysts expected, and raised wheat production estimates for Russia, Australia, Canada and several other key suppliers.

• Euronext wheat futures edged down for a second session after the USDA's forecasts underlined swelling global wheat supply.

• Traders were watching a slide in the U.S. dollar .DXY index after the Federal Reserve lowered interest rates in a widely expected move that occurred late in Wednesday's CBOT trading session. A softer dollar tends to make U.S. grains more competitive globally.

• Ahead of Thursday's weekly USDA export sales report, traders estimated that the government would report net export sales of U.S. wheat in the week ended November 13 at 200,000 to 600,000 metric tons.