US wheat futures fell on Friday on forecasts for rain in the US Plains that could improve harvest prospects for drought-stressed crops. Profit-taking also featured in the market following three straight days of gains, traders said. Spring wheat futures were pressured by warming temperatures in the northern US Plains that will allow farmers to begin planting in the coming weeks.
MGEX spring wheat hit a two-week low. CBOT May soft red winter wheat futures were down 1.9 percent this week. K.C. hard red winter wheat futures for May delivery posted a weekly loss of 2.7 percent while MGEX May spring wheat dropped 2.6 percent.