US wheat futures closed lower on Friday on profit-taking after the big rally on Thursday. CBOT March expired 8-3/4 cents per bushel lower at $5.06-1/2 per bushel. May was down 6-3/4 cents at $5.18-1/4 per bushel. KCBT hard red winter wheat for March expired 5 cents lower at $5.69. May closed at $5.70 per bushel, down 6 cents per bushel.
MGE spring wheat for May closed down 8-1/2 cents at $6.10 per bushel. More rain needed in dry areas of the US Plains HRW wheat region and the chance for significant precipitation fairly limited. China 09 wheat output to dip, rapeseed up - agency. Australia to list wheat futures, seen CBOT complement. Ukraine forecasts lower wheat, higher maize crop. Deliveries on March 834 lots amid scattered stopping.
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