CBOT wheat eases on ample supply, improving Black Sea forecast
CHICAGO, Feb 4 (Reuters) - Chicago Board of Trade wheat futures ticked lower on Wednesday on an ample global supply of the grain and an improving forecast for the wheat crop in the Black Sea.
Ample global supply continued to cap grain prices as traders started to look ahead to world crop forecasts from the U.S. Department of Agriculture next Tuesday for fresh direction.
Easing concerns over crop winterkill in Ukraine and Russia following a prolonged period of severe cold in the Black Sea region has added pressure to the wheat market.
January weather conditions did not have a negative impact on Ukrainian winter crops despite severe frosts in the last week of the month, state weather forecasters said on Tuesday.
CBOT March soft red winter wheat WH26 closed 2 cents lower at $5.26-3/4 per bushel.
K.C. March hard red winter wheat KWH26 rose 4-1/2 cents to end at $5.30-1/4 a bushel. Minneapolis March spring wheat MWEH26 settled unchanged at $5.68-1/4 a bushel.
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