CHICAGO, Feb 10 (Reuters) - U.S. wheat futures dropped for the second day in a row on Wednesday, pressured by a sharp decline in the corn market, traders said. * The benchmark Chicago Board of Trade March soft red winter wheat contract faced technical resistance at its 30-day moving average before turning lower. * CBOT March wheat settled below its five-day and 40-day moving average. Some buyers stepped into the market after it dipped below its 50-day moving average for the first time since Dec. 22. * A U.S. Agriculture Department report on Thursday morning was expected to show weekly wheat export sales between 200,000 and 450,000 tonnes, based on a range of analysts' estimates. That compares with 736,623 tonnes the prior week. Last Net Pct Low High Volume chng chng WHEAT SRW MAR1 634.25 -15.25 -2.4 626.75 650.50 91108 WHEAT SRW MAY1 639.50 -14.50 -2.2 631.50 655.50 70114 WHEAT HRW MAR1 613.00 -20.50 -3.2 610.75 635.25 40176 WHEAT HRW MAY1 619.25 -19.25 -3.0 616.25 640.00 33576 SPG WHT MAR1/d 620.25 -6.25 -1.0 614.25 630.50 4424 SPG WHT MAY1/d 630.75 -6.75 -1.1 625.25 641.75 5892 (Reporting by Mark Weinraub; Editing by Will Dunham)
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U.S. wheat futures fall on weakness in corn - Successful Farming
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