Chicago Board of Trade wheat futures rose on Friday for a second straight session, following broad strength in commodities as the US dollar declined, traders said. The 19-market Thomson Reuters CoreCommodity Index was up more than 1 percent. The dollar fell, making US goods more competitive globally, on skepticism over US Republicans' efforts to pass tax cuts.
CBOT December wheat settled up 5-3/4 cents at $4.27-1/4 a bushel. For the week, the contract fell 4-1/4 cents or about 1 percent. K.C. December hard red winter wheat ended Friday up 5 cents at $4.22 a bushel and MGEX December spring wheat rose 4-3/4 cents at $6.35. Rallies were capped by ample global supplies and worries about export demand for US wheat, given Russia's record-large harvest. Egypt's main state wheat buyer on Thursday bought 240,000 tonnes of Russian wheat at an international tender.
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