CBOT wheat dn on higher than expected acreage in US.

Wheat futures on the CBOT nearly 1% down due to higher than expected area under winter wheat in the US. According to USDA’s latest report on plantings, winter wheat was sown across 32.6 mln ha as of last week, down from 32.7 mln ha a year ago, but higher than market anticipation of 30-32 mln. Besides, USDA’s forecast of a record high wheat production in 2017-18 also weighed on prices. The agency has raised its estimate for global wheat output for 2017-18 by 1.8 mln tn and pegged the crop size at a record high of 757.01 mln tn.