Mumbai, 17 Apr (Commoditiescontrol): Chicago Board of Trade (CBOT) wheat futures settled lower on Tuesday, while K.C. wheat advanced amid concerns about dryness hurting crops in Kansas, analysts said.
CBOT May soft red winter wheat settled down 2 cents at $5.49-3/4 per bushel and touched its lowest price since April 3.
K.C. May hard red winter wheat ended up 3-1/2 cents at $5.87-1/2 a bushel. MGEX May spring wheat last traded 1-1/4 cents higher at $6.38-1/4.
A five-month high in the dollar hung over the markets, as it makes U.S. farm products less attractive to importers, analysts said.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), said it bought 120,000 metric tons of Ukrainian wheat in an international tender.
The U.S. Department of Agriculture, in a report issued after trading ended on Monday, rated 55% of the U.S. winter wheat crop in good-to-excellent condition, down from 56% a week earlier and in line with trade expectations.
In Kansas, the top U.S. wheat state, 43% of the crop was rated good-excellent, down from 49% a week earlier.
Large Russian wheat exports also loomed over U.S. markets as Russia's agriculture minister said companies avoided significant disruptions from heavy flooding.
Ukraine's grain harvest is likely to fall to about 52 million metric tons this year from 58 million tons in 2023, most, Ukraine's farm ministry said.
(By Commoditiescontrol Bureau: 09820130172)
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