Chicago Board of Trade wheat futures were narrowly lower on Tuesday, weighed down by ample global supplies and chart-based selling, traders said. Wheat declined for the second straight session as some investors locked in profits after prices on Friday hit a nearly three-week high. Worries freezing temperatures could damage dormant US winter wheat plants helped to limit losses. Conditions in the Plains and Midwest were likely to remain bitter cold for the next week, prompting concerns of so-called winterkill.

Benchmark CBOT March soft red winter wheat ended down 2-1/2 cents at $4.22-1/4 a bushel. K.C. March hard red winter wheat was down 2-1/4 cents at $4.20 a bushel and MGEX March spring wheat 3/4 cent lower at $6.11.

Copyright Reuters, 2017