CBOT wheat down as short-covering rally fades
ReutersMar 2, 2026 8:16 PM
CHICAGO, March 2 (Reuters) - Chicago Board of Trade wheat futures turned lower on Monday, as the short-covering rally sparked by the outbreak of conflict in the Middle East began to lose steam.
Wheat futures also fell due to improving U.S. crop weather, which relieved concerns over stress to the winter wheat crop.
Saudi Arabia's main state buying agency said it purchased about 794,000 metric tons of wheat in an international tender, exceeding the 655,000 tons that it sought.
CBOT May soft red winter wheat WK26 ended 14-1/4 cents lower at $5.77-1/4 per bushel.
K.C. May hard red winter wheat KWK26 settled 5-3/4 cents lower at $5.74-3/4 per bushel, and Minneapolis May spring wheat MWEK26 settled 2-3/4 cents lower at $6.10 per bushel.
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