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Concerns Over Excessive Supply Weaken Wheat Futures Wheat for March delivery fell 1.8% to $6.51 a bushel on the Chicago Board of Trade Monday as U.S. exports declined, according to USDA data. Wheat led a slide on grain prices, losing 2.2% amid signs of strong global supply and soft demand for the U.S. crop. The USDA reported that last week 397K metric tons of wheat were inspected for exports, down from 572K metric tons in the prior week. RJ O Brien s Richard Feltes reports that the Chinese government sold 2.2M metric tons of reserve wheat overnight to domestic feed users. The broker also cites strong Russian exports.

United statesTerry reillyObrien richard feltesTomm pfitzenmaierFutures internationalChicago board of tradeChicago boardTrade mondayRichard feltesSoybean harvest offSlow start duePrices slipPork demand is seen as resilientDow jonesWheat futuresw cbr floor c1 stock exchangePress release