CHICAGO: Chicago Board of Trade soft red winter wheat futures fell in an abbreviated trading session on Friday, pressured by a firm dollar and continued concerns surrounding the debt crisis in Europe, traders said.
* A stronger greenback makes US wheat relatively more expensive to overseas buyers. Demand for US wheat on the export market has been hurt as importers have found cheaper supplies from countries such as Russia and Ukraine.
* CBOT front-month December wheat dipped to $5.72-1/4 per bushel, the lowest spot wheat price on continuous price charts in nearly five months.
* For the week, wheat was down 3.8 percent, its fourth straight weekly decline.
* December options expired on Friday.
* USDA reported export sales of all varieties of US wheat in the latest week at 614,500 tonnes, the most in nine weeks and above trader estimates ranging from 300,000 to 450,000 tonnes. South Korea and China were the top destinations.
* Ukraine's grain exports are unlikely to exceed 20 million tonnes in the 2011/12 season due to a shortage of railway grain wagons, the head of Ukrainian Grain Association traders' union was quoted as saying on Friday.
* International Grains Council on Thursday cut its forecast for global wheat production in 2011/12 by 1 million tonnes to 683 million, above the prior season's 653 million. Global wheat consumption was raised but world wheat stocks still seen at highest in a decade, IGC said.
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