CBOT wheat falls on global demand uncertainty

Chicago Board of Trade wheat futures fell on Monday, pressured by global demand concerns after China lowered interest rates in a move that signaled economic concern, while continued exports moving out of Ukraine added to global supply, analysts said.

• CBOT September soft red winter wheat (WU2) settled down 5-1/4 cents at $8.00-3/4 a bushel, while the most-active December contract (WZ2) fell 4-3/4 cents to $8.17-3/4 a bushel.

• K.C. December hard red winter wheat (KWZ2) eased 7-1/2 to $8.92-1/2 a bushel while MGEX December spring wheat (MWEZ2) fell 9-1/2 cents to settle at $9.22-1/2.

• The People's Bank of China cut key interest rates on weaker-than-expected economic data from the world's second-largest economy, raising concerns of a global recession.

• U.S. exporters prepared 373,227 tonnes of wheat for inspection during the week ended Aug. 11, down 41.29% from the week prior, according to the U.S. Department of Agriculture.

• The U.S. spring wheat crop is expected to be pegged at 22% harvested as of Aug. 7, up from 9% a week earlier, according to a Reuters poll of analysts.

• The spring wheat crop should be rated at 63% good-to-excellent, a Reuters poll of analysts said. That's down one percentage point from the week prior.

• Two more ships carrying grain left Ukraine's Black Sea ports on Saturday, bringing the total number of vessels to depart the country under a U.N.-brokered deal to 16.

• Ukrainian officials are working to release a detained vessel carrying Ukrainian wheat purchased by Egypt's government, Ukraine's Mideast envoy said.