US wheat edged lower on Friday after rising in seven straight sessions, but it was still on pace for its largest weekly bounce in a more than a month on growing export demand and concerns that wheat production in the Black Sea region may be reduced by bitter-cold weather.
Volume was thin at the Chicago Board of Trade as traders consolidated positions ahead of the weekend. All corn and wheat contracts traded in both positive and negative territory. CBOT March wheat fell 3-1/4 cents to $6.50-1/4 cents per bushel but was on track to gain 6 percent for the week. CBOT corn was up 1-3/4 cents at $6.36-1/4 and nearly 4 percent higher for the week. CBOT March soybeans fell 4 cents to $12.18-3/4 per bushel as rains benefited crops in South America.
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