US wheat futures fell on Wednesday, snapping a streak of four straight higher closes, on pressure from light export demand for US supplies as well as technical weakness, traders said. The benchmark Chicago Board of Trade December soft red winter wheat contract hit technical resistance at the high end of its 20-day Bollinger range.

K.C. hard red winter wheat contracts and MGEX spring wheat contracts also closed in negative territory. MGEX spring wheat contracts declines were limited, with the most-actively traded December contract finding technical support at its 50-day and 20-day moving averages.

Egypt's state grains buyer, the General Authority for Supply Commodities on Wednesday said it bought 60,000 tonnes of French wheat in a tender for shipment November 5-15. No US wheat was offered in the deal.

Analysts were expecting a US Agriculture Department report on Thursday morning to show that export sales of wheat in the week ended September 26 were between 200,000 and 600,000 tonnes. A week earlier, wheat export sales totaled 283,156 tonnes.

Copyright Reuters, 2019