CHICAGO: Chicago Board of Trade wheat futures fell to a one-week low Friday on concerns about sluggish export demand for US supplies given stiff competition from Russia and a rebound in the dollar, traders said.
* CBOT December soft red winter what settled down 5-3/4 cents at $5.02 per bushel after dipping to $5.00-3/4, its lowest since Nov. 1.
* K.C. December hard red winter wheat ended down 9-3/4 cents at $4.87-1/2 a bushel while MGEX December soft red winter wheat fell 6-3/4 cents at $5.73-1/4.
* The US dollar rose, in theory making US grains less competitive globally. The currency firmed after the Federal Reserve reaffirmed its monetary tightening stance, setting up for a fourth US interest rate hike this year in December.
* Russia's Agriculture Ministry said it saw 2018 wheat crop standing at 69.3 million tonnes by clean weight, the Interfax news agency reported.
* Brazil wheat imports are expected to increase 11 percent in 2019, to 7 million tonnes, as the country grapples with crop failures, a senior manager for commodities trading firm Bunge said.
* For the week, CBOT December wheat fell 6-3/4 cents or 1.3 percent, its fourth weekly decline in the last five weeks.
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