US wheat futures rose Friday, led by MGEX spring wheat as planting delays and flooding concerns raised concerns about dwindling supplies for the high-protein crop, traders said. A weak dollar lent further support to the market throughout the day.
For the week, MGEX wheat was up 1.6 percent while the benchmark CBOT contract dropped 5.7 percent. US Agriculture Department says wheat export sales totalled 308,700 tonnes in latest reporting week, in line with analysts' forecasts for 200,000 to 500,000 tonnes.
More rain expected in northern US Plains on Friday. Northern weather seen drier through the weekend although a few thunderstorms in the forecast. Hot, dry weather across southern Kansas to stress hard red winter wheat crop that is behind schedule.
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