Mumbai, 22 Feb (Commoditiescontrol): Chicago Board of Trade (CBOT) wheat futures ended mixed on Wednesday, with the spot March contract inching higher while back months were pressured by ample global wheat supplies and strong competition for export business, traders said.
CBOT March soft red winter wheat settled up 1/2 cent at $5.83-1/4 per bushel, but most-active May wheat ended down 1-1/4 cents at $5.78.
The CBOT March contract has been firming relative to deferred contracts throughout the month of February, a move that some traders attribute to shippers seeking grain to cover U.S. wheat sales to China that were booked in late 2023.
K.C. May hard red winter wheat ended Wednesday down 6-1/2 cents at $5.74-1/2 a bushel and MGEX May spring wheat finished down 4 cents at $6.61-1/2 a bushel.
Euronext wheat futures eased after a day-earlier rebound stalled, and as hefty export supplies continued to weigh on the market.
Jordan's state grain buyer issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins, European traders said.
(By Commoditiescontrol Bureau: 09820130172)
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