CBOT wheat futures fall

Chicago Board of Trade wheat futures fell on Thursday, snapping a five-session winning streak as a firm dollar weighed on demand for US supplies on the export market, traders said. The dollar gains made US wheat more expensive to overseas buyers amid abundant global supplies. K.C. hard red winter wheat futures and MGEX spring wheat also posted lower closes.
The benchmark CBOT March soft red winter wheat contract sank below its 30-day moving average, closing below that key technical point for the first time since November 22. The US Department of Agriculture reported export sales of US wheat in the latest week at 531,400 tonnes for 2016/17.