CHICAGO, Dec 16 (Reuters) - U.S. wheat futures fell on Wednesday on a mild technical setback, traders said. * The benchmark Chicago Board of Trade March soft red winter wheat futures contract closed below its five-day and 30-day moving averages during Wednesday's session. * Buyers stepped in after the contract dipped below its 20-day moving average. * Analysts were expecting a U.S. Agriculture Department report on Thursday morning to show that wheat export sales totaled between 250,000 tonnes and 650,000 tonnes in the week ended Dec. 10. * Grain exporters look unlikely to accelerate shipments of Russian wheat before an export tax is implemented in mid-February, with farmers expected to be in no rush to release supplies, particularly given poor prospects for next year's harvest. Last Net Pct Low High Volume chng chng WHEAT SRW MAR1 598.00 -1.75 -0.3 589.75 607.75 54831 WHEAT SRW MAY1 599.50 -1.75 -0.3 591.75 608.00 15087 WHEAT HRW MAR1 560.50 -5.50 -1.0 556.00 572.75 15972 WHEAT HRW MAY1 564.75 -5.50 -1.0 560.00 575.50 5174 SPG WHT MAR1/d 559.00 -0.50 -0.1 554.25 563.25 2866 SPG WHT MAY1/d 567.75 -0.25 0.0 563.00 571.50 1200 (Reporting by Mark Weinraub Editing by Mark Heinrich)
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December 17, 2020 at 02:47AM
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CBOT wheat closes lower on technical selling - Successful Farming
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