CHICAGO, Feb 14 (Reuters) - Chicago Board of Trade wheat
futures closed lower on Tuesday after a choppy session,
pressured by macroeconomic worries and profit-taking after the
benchmark March contract hit a six-week high, traders said.
* CBOT March soft red winter wheat settled down 6
cents at
$7.86 per bushel, turning lower after advancing to $7.97-1/2,
its highest since Dec. 30. Traders noted psychological
resistance at the $8-a-bushel mark.
* K.C. March hard red winter wheat ended down 6-1/4
cents
at $9.06 a bushel while MGEX March spring wheat rose
1-1/4 cents to finish at $9.32.
* Wall Street equities and some commodity markets eased
after data
showed U.S. consumer prices accelerated in January, while
hawkish remarks from Federal Reserve officials cemented fears
the central bank will continue raising interest rates this year.
* Traders continue to monitor war risks to Black Sea grain
supplies. News that military officials in Ukraine issued a
warning of a high risk of naval mines drifting around the port
of Odesa kept attention on potential disruption to grain trade
as fighting in Ukraine intensifies.
* France's farm ministry raised its estimate of the area
sown with
soft wheat for the 2023 harvest to 4.76 million hectares, up
from 4.75 million estimated in December.
* India's 2023 wheat production is likely to rise 4.1% to a
record
112.2 million tonnes, the government said.
* Euronext published its Commitments of traders report for
commodity derivatives after a delay of nearly a week as a result
of disruption from a ransomware attack on financial data firm
ION Group. Euronext's data showed that financial investors
increased slightly their net short position in the exchange's
wheat futures and options.
(Reporting by Julie Ingwersen; Editing by Andrea Ricci)
Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
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