OREANDA-NEWS. February 19, 2015. Chicago Board of Trade wheat fell 1.2 percent on Wednesday after Egypt backed out of plans to import U.S. supplies, traders said.

K.C. hard red winter wheat shed 2.5 percent and MGEX spring wheat dropped 1.2 percent.

Egypt's state grain buyer canceled a tender to buy U.S. wheat due to high prices.

The move underlined how U.S. wheat was not competitive with offerings from other countries to win business from overseas buyers.

Some concerns about sub-zero temperatures damaging some of the dormant crop in the U.S. Midwest limited the declines on Wednesday.