CBOT wheat futures fall as dollar rises

Chicago Board of Trade wheat futures fell on Friday on pressure from strength in the US dollar that pushed the currency to an 11-year high against the euro, traders said. K.C. hard red winter wheat futures and MGEX spring wheat also closed lower, but declines were limited by bargain buying following sharp declines earlier this week. For the week, the front-month CBOT soft red winter wheat contract shed 0.7 percent, its fifth straight week of losses.
K.C. hard red winter wheat dropped 2.5 percent this week and MGEX spring wheat was 1.5 percent lower. Wheat futures tend to be the agricultural commodity most sensitive to dollar moves as export deals are often conducted in the local currency and a strong dollar makes US supplies relatively expensive.