CBOT wheat ends lower as UN pushes for longer Black Sea deal extension

Kitco Media
By Reuters
Published:
Updated:
Reuters
CHICAGO, March 16 (Reuters) - Chicago Board of Trade wheat futures closed lower on Thursday after the United Nations pressed for an 120-day extension of the Black Sea grains deal and top U.S. wheat state Kansas was hit by overnight rains, analysts said.


* The United Nations backed Turkey and Ukraine by calling for a 120-day rollover of an agreement allowing the safe export of grain from several Ukrainian Black Sea ports after Russia said it would only extend the pact for 60 days.
* CBOT May soft red winter wheat settled down 3-3/4 cents at $6.99 per bushel.


* K.C. May hard red winter wheat last traded unchanged at $8.19-3/4 a bushel and MGEX May spring wheat last traded down 5-3/4 cents at $8.46-3/4 at the close.
* Major U.S. stock indexes were trading higher in choppy trade as investors remained nervous about the economic outlook despite the Swiss central bank's lifeline for Credit Suisse.
* The USDA also reported weekly export sales for U.S. wheat that were in line with expectations. (Reporting by Cassandra Garrison; editing by Grant McCool)

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