Mumbai, 8 Apr (Commoditiescontrol): Chicago Board of Trade (CBOT) wheat futures retreated lower on Monday, giving up some of previous session's robust gains, which were triggered by tensions in the Black Sea and concerns over French crop condition.
The most-active wheat contract on the CBOT lost 0.6% to $5.63-3/4 a bushel. On Friday, renewed drone attacks on Black Sea grain ports underpinned wheat prices.
Russian authorities have halted grain exports on some ships belonging to Aston, one of the biggest local grain trading houses, two industry sources said, but the company denied there were any delays.
The state of French soft wheat, already the worst in four years, declined slightly last week, while spring barley conditions were at their worst on record, data from farm office FranceAgriMer showed on Friday, as frequent rain made fields waterlogged.
Some 65% of French soft wheat was rated as in "good or excellent" condition by April 1, down from 66% a week earlier and down from 93% a year ago, FranceAgriMer said in a cereal crop report.
Large speculators increased their net short position in Chicago Board of Trade corn futures in the week ended April 2, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat.
(By Commoditiescontrol Bureau: 09820130172)
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