CHICAGO: Chicago Board of Trade wheat futures declined for the first time in seven sessions on Friday, pressured by profit-taking ahead of the long Christmas holiday weekend, but posted a weekly gain for the first time in three weeks.
Markets closed early on Friday and will remain closed on Monday for the holiday.
Benchmark CBOT March soft red winter wheat ended down 2-1/4 cents at $4.24-3/4 a bushel after earlier peaking at $4.29, the highest since Dec. 6. For the week, the contract was up 1.6 percent.
K.C. March hard red winter wheat ended down 2 cents at $4.22-1/4 a bushel, and MGEX March spring wheat was down 5 cents at $6.12 a bushel.
US wheat export demand has improved following futures contract lows earlier this month. Thai millers bought 150,000 tonnes of US spring and hard red winter wheat in recent deals, while soft red winter wheat export sales were boosted by feed demand in Asia.
Concerns eased about potential US Plains winter crop damage from frigid weather as forecasts showed slightly milder conditions.
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