CHICAGO: US wheat futures fell on Wednesday, closing near session lows as the dollar rebounded from its intraday low and pressured the commodities market, traders said.
* The benchmark Chicago Board of Trade December soft red winter wheat contract fell 1 percent, snapping a three-day winning streak.
* Wheat prices traded higher for much of the session but weakness in corn and soybeans turned prices lower as the dollar pared its losses, lessening the value of US commodities for investors looking for a hedge against inflation.
* Analysts expecting weekly US Agriculture Department report to show wheat export sales in range from 450,000 to 600,000 tonnes.
* Dry weather expected to continue this week in US Plains but potential for some showers next week.
* Saudi Arabia expects to import 1.9 million tonnes of wheat in 2011.
* Egypt, the world's largest wheat importer, expects to grow 3 million acres of wheat in 2011/12.
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