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CBOT wheat closes mixed, spring wheat gains on drought

CHICAGO, June 10 (Reuters) - U.S. wheat futures were mixed on Thursday, with Chicago Board of Trade soft red winter wheat contracts closing mostly lower, while Minneapolis spring wheat futures gained on concerns about drought-reduced production. * The benchmark CBOT July soft red winter wheat futures contract ended 1-1/2 cents higher at $6.83-3/4 a bushel. Deferred contracts were nearly all lower. * K.C. July hard red winter wheat was 4-1/2 cents higher at $6.40-1/4, and MGEX spring wheat for July delivery was 11-1/4 cents higher at $7.75-1/2 a bushel. * Hot, dry conditions in the northern Plains have boosted spring wheat prices. About two-thirds of top producer North Dakota are in extreme to exceptional drought, according to climatologists. * The U.S. Department of Agriculture (USDA) made only modest adjustments to its wheat production and stocks estimates in a monthly report on Thursday. * In a separate report, the USDA said exporters sold a net 325,900 tonnes of wheat for the 2021/2022 marketing year, which began June 1, in line with trade forecasts. (Reporting by Karl Plume; Editing by Peter Cooney)

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