Chicago Board of Trade wheat futures declined on Thursday, halting a three-session advance, pressured by technical selling and a stronger dollar that could limit US export prospects, traders said. CBOT March soft red winter wheat settled down 5-3/4 cents at $5.56-1/4 per bushel. K.C. March hard red winter wheat ended down 6 cents at $4.67-3/4 a bushel and MGEX March spring wheat fell 2-3/4 cents to finish at $5.32-1/2.
The dollar index rose for a fourth straight day, making US grains less competitive globally. The US Department of Agriculture reported export sales of US wheat in the week ended Jan. 30 at 338,600 tonnes, in line with trade expectations.
Additional market pressure noted from the USDA's announcement that its next monthly supply/demand report on Feb. 11 will not include details about China's purchase commitments from the US-China Phase 1 trade deal signed last month.
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