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334941

U.S. wheat futures fall on export woes, rain forecast

CHICAGO, Oct 19 (Reuters) - U.S. wheat futures fell on Wednesday, with traders saying that high prices for U.S. supplies on the export market was chilling demand from overseas buyers. * Forecasts for showers in the eastern U.S. Midwest that will aid developing crops added pressure to soft red winter wheat contracts. * The benchmark Chicago Board of Trade December soft red winter wheat futures contract settled 8-1/4 cents lower at $8.41-1/4 a bushel after hitting technical resistance at its 40-day moving average. * CBOT wheat managed to hold support above the four-week low hit on Tuesday. * K.C. hard red winter wheat December futures fell 2-3/4 cents to $9.41-3/4 a bushel and MGEX December spring wheat dropped 2-3/4 cents to $9.53-1/4 a bushel. * Analysts were expecting a U.S. Agriculture Department report on Thursday morning to show wheat export sales were in a range between 200,000 and 550,000 tonnes in the week ended Oct. 13. That compares with 211,823 tonnes a week earlier. (Reporting by Mark Weinraub; Editing by Lisa Shumaker)

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