Chicago Board of Trade wheat futures fell to contract lows on Friday, pressured by smaller-than-expected weekly export sales and technical selling, traders said. CBOT December soft red winter wheat settled down 7 cents at $4.15-3/4 a bushel after dipping to a contract low of $4.12-1/2. For the week, the CBOT December wheat contract fell 11-1/2 cents a bushel or 2.7 percent, its second straight weekly decline.
K.C. December hard red winter wheat ended down 6-1/2 cents at $4.14-1/2 on Friday after setting a contract low at $4.11, while MGEX December spring wheat fell 4-1/4 cents at $6.22-1/2. The US Department of Agriculture (USDA) reported export sales of US wheat in the latest week at 200,600 tonnes (old and new crop years combined), below a range of trade expectations for 350,000 to 550,000 tonnes.
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