CBOT wheat lower on improving US weather
CHICAGO, March 4 (Reuters) - Chicago Board of Trade wheat futures turned lower on improving weather in the U.S. wheat belt on Wednesday and the end of a short-covering rally that had supported prices the previous week.
Rains across the U.S. winter wheat belt and parts of the U.S. Midwest are providing ideal weather for the crop as it emerges from dormancy.
However, dryness has continued to remain a concern for the U.S. wheat crop.
Non-commercial market participants reversed to a net long position in Euronext's milling wheat futures and options in the week to February 27, data published by Euronext on Wednesday showed.
CBOT May soft red winter wheat WK26 settled 5-3/4 cents lower to end at $5.68-1/4 per bushel.
K.C. May hard red winter wheat KWK26 settled 5-3/4 cents lower to end at $5.72-1/2 per bushel, and Minneapolis May spring wheat MWEK26 settled 4 cents lower to end at $6.09-1/4 per bushel.
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