CBOT wheat futures lower

Wheat futures on the Chicago Board of Trade fell Wednesday on spillover weakness from corn and soybeans and pressure from a resurgent US dollar, traders said. The US dollar index hit a near 14-year high on the expectation increased US government spending could trigger higher inflation. A stronger dollar tends to make US grains less attractive on the world market.
CBOT December wheat settled down 2 cents at $3.97 per bushel, but stayed within the previous day's trading range. K.C. December hard red winter wheat ended down 4-1/2 cents at $4.03-1/2 a bushel while MGEX December spring wheat ended up 4-1/2 cents at $5.19-1/4. Algeria's state grains agency OAIC bought 580,000 tonnes of optional-origin milling wheat in a tender, European traders said. The origin of wheat is at the seller's option, but traders thought it was likely to be sourced from the United States, Germany and the Baltic states.