KANSAS CITY WHEAT LOSES EARLY GAINS, ENDS LOWER
Hard wheat futures closed 1-1/4 to
1/2 cents lower in light trading as exporter selling erased
early gains to close the market near session lows, traders
said. May closed 1-1/4 cents lower at 2.72-3/4 dlrs.
    Prices opened steady to higher on some follow-through
buying from yesterday and hopes for new export sales in tenders
scheduled this week. But selling by a major exporter brought
prices off their highs, and the lack of strong buying interest
reversed those gains.
    Volume remained generally thin with little other fresh news
in the market. Cargill sold 1.0 mln bushels of May, and Staley
bought May and July, pit brokers said. Some intra-market
spreading was noted with players on both sides of July/December
at 7-1/2 cents, they said.
 Reuter
