Australian Wheat Futures Close Lower Tuesday

Australian wheat futures extended their slide Tuesday with benchmark ASX Jan closing A$3 lower at A$322/tonne.

Futures were pressured lower by a weaker overnight close on CBOT wheat and an outlook for rain later in the week across Southern Australia.

A lack of export business and a large global crop replenishing stocks also added to the bearish tone.

A weaker A$ vs the USD was mildly supportive.