CBOT wheat futures lower in range bound trade

Chicago Board of Trade wheat futures closed lower on Friday in range bound trade, weighed by weakness in corn and soybeans and a stronger US dollar, traders said.

CBOT March soft red winter wheat settled down 1-1/2 cents at $5.42-3/4 per bushel but stayed inside of Thursday's trading range.

For the week, the contract fell 16 cents a bushel or 2.9%, retreating after rising by 0.9% a week earlier.

K.C. March hard red winter wheat ended down 1/2 cent on Friday at $4.65-1/2 a bushel and MGEX March spring wheat ended down 1-1/4 cents at $5.25-1/2.

Global cash wheat prices have been easing in recent weeks, pressuring US prices, while a firming dollar has also made US grains less attractive to those holding other currencies.

Weather remains generally benign for winter wheat crops in Europe and the Black Sea region, space Technology Company Maxar said in a daily weather note.