CBOT wheat ends lower, retreating from early advances

CHICAGO, Jan 6 (Reuters) - Chicago Board of Trade wheat futures ended lower on Friday, retreating from early strength as traders focused on strong global export competition given ample supplies from the Black Sea region and Australia, traders said.

• CBOT March soft red winter wheat WH3 settled down 3-1/4 cents at $7.43-1/2 per bushel.

• For the week, the contract fell 48-1/2 cents a bushel or 6.1%, its biggest weekly slide since mid-July.

• K.C. March hard red winter wheat KWH3 ended Friday down 7-3/4 cents at $8.32 per bushel and MGEX March spring wheat MWEH3 fell 7-1/4 cents to settle at $9.01-3/4.

• Australia wheat production is expected to rise to a record 42 million tonnes as results from the final phase of harvest show higher yields, traders and an analyst said.

• Euronext wheat futures edged lower, but price movement was limited as brokers awaited the end of a holiday week in Russia to gauge the country's export prospects as insurance costs for the Black Sea zone rise due to Moscow's ongoing invasion of Ukraine.

• The U.S. Department of Agriculture reported export sales of U.S. wheat in the week ended Dec. 29 at 144,100 tonnes (old and crop years combined), below a range of trade expectations for 200,000 to 675,000 tonnes. EXP/WHE

• Traders await several key reports due from the USDA on Jan. 12, including U.S. winter wheat seedings for 2023 harvest, U.S. Dec. 1 stocks, and the USDA's regular monthly supply/demand report.

(Reporting by Julie Ingwersen; Editing by Aurora Ellis)

((Julie.ingwersen@thomsonreuters.com; 1-312-408-8710; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.))