Chicago Board of Trade wheat futures dropped on Friday on technical selling and easing concerns about the size of the crop grown in the Great Plains, traders said. CBOT July soft red winter wheat settled down 11-3/4 cents at $5.26-1/4 a bushel.
The market pulled back after reaching $5.38-1/2 on Thursday, the contract's highest since August 1. K.C. July hard red winter wheat ended down 12 cents at $5.55-3/4 a bushel. Rains in the US Plains pressured prices by reducing concerns about dry conditions hurting crop-growing areas, traders said.
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