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CBOT wheat ends down as rains benefit U.S. Plains

CHICAGO, Oct 28 (Reuters) - Chicago Board of Trade wheat futures settled lower on Friday as beneficial rains hit growing areas in the U.S. Plains, analysts said. * CBOT December soft red winter wheat settled down 9-1/4 cents at $8.29-1/4 a bushel. * K.C. December hard red winter wheat ended 7-1/4 cents lower at $9.25 a bushel, while MGEX December spring wheat fell 5-1/2 cents to close at $9.45 a bushel. * The latest round of beneficial precipitation fell across parts of Oklahoma and Texas, where farmers grow hard red winter wheat, the U.S. Department of Agriculture said in a daily weather report. The rain is "greatly benefiting winter grains and helping to revive rangeland and pastures," the report said. * In Argentina, the core farming region is likely to produce just 1.34 million tonnes of wheat amid a protracted drought, which would mark an 83% drop versus a bumper crop a year earlier, the Rosario grains exchange said in a report. * Euronext wheat was little changed as participants assessed Argentina's crop and awaited clearer indications over talks to prolong a wartime grain shipping corridor from Ukraine. (Reporting by Tom Polansek Editing by Marguerita Choy)

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