Chicago Board of Trade wheat futures fell near their session lows at the close of pit trading at 1:15 pm CDT (1815 GMT) on Friday, pressured by the record-fast harvest of the winter wheat crop in the Plains. Traders also noted some profit-taking after CBOT prices rose 3.1 percent during the week, snapping a two-week losing streak.
Kansas City Board of Trade hard red winter wheat futures fell 1.7 percent on Friday, in line with CBOT wheat, but MGEX spring wheat was down only slightly. Tight supplies of high protein wheat lent support to the MGEX market. Iran needs to buy 2 million tonnes of milling wheat in the next few months after having imported 3 million tonnes so far this year, a member of the French grain exporters' lobby said. Australia's wheat output in the year to June 2013 likely to be 4 percent lower than government's March estimate of 26 million tonnes, according to Reuters survey.
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