US winter wheat futures eased on Tuesday as investors continued to sell Chicago Board of Trade and K.C. winter wheat and simultaneously buy MGEX spring wheat futures, traders said. Limited global demand and ample US winter wheat supplies continued to anchor prices for global benchmark CBOT wheat even as spring wheat hit a nearly one-week high.

CBOT September wheat settled down 2-1/4 cents at $5.03-3/4 per bushel and K.C. September hard red winter wheat off 3-3/4 cents to $5.02-3/4. MGEX September spring wheat was up 13-1/4 cents to $7.80-1/2. Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it bought 300,000 tonnes of wheat from Russia, Romania and France. Hot, dry weather has seen high-protein wheat emerge as the one tight spot in a global grains market swamped with abundant stocks, after four years of bumper harvests.

Copyright Reuters, 2017