CHICAGO (Commodity Online): US Wheat futures ended mostly lower, as traders consolidated positions ahead of Thursday's USDA reports.
Traders are not expecting major adjustments in US wheat data, but revised outlooks for Corn could move prices, analysts say.
Optimism that smaller crops in the Black Sea region could Lead to more US export demand continue to underpin prices.
However, the potential for a surprise, or for market-moving estimates on Corn and soybean supplies, encouraged traders to remain cautious and trim risk exposure, analyst say.
CBOT March Wheat ended down 1 1/2 cents to $6.60 3/4 per bushel, MGEX wheat closed up 3 1/2 cents to $8.41 1/2, and KCBT wheat ended down 2 cents to $7.10.
Courtesy: CME group
