CHICAGO: Chicago Board of Trade (CBOT) wheat futures eased on Wednesday on concerns about sluggish export sales, including to Egypt, which has struggled to pay for several recent import cargoes, traders said.

Trading in grains was light as many US markets, including US equities and bond markets, were closed on Wednesday to mourn the death of former US President George H.W. Bush.

CBOT benchmark March soft red winter wheat settled 4-1/2 cents lower at $5.18 per bushel. K.C. March hard red winter wheat ended 7-1/4 cents lower at $4.98 a bushel and MGEX March spring wheat fell 4-1/4 cents to $5.75-1/2. Egypt, the world’s top wheat importer, has not issued letters of credit covering 16 recently purchased cargoes, effectively delaying payment and sowing confusion amongst suppliers.—Reuters