Wheat futures on the Chicago Board of Trade fell on Friday, led by the spot December contract in a shortened session following the US Thanksgiving holiday. CBOT December wheat settled down 5-3/4 cents at $3.95-3/4 per bushel, losing to back months on spreads. Expectations of deliveries on first notice day for December futures on November 30 may have pressured the front month, analysts said.
K.C. December hard red winter wheat ended down 4-1/4 cents at $4.11-1/4 a bushel. MGEX December spring wheat closed up 5-1/2 cents on concerns about tightening global supplies of top-quality, high-protein milling wheat. The US Department of Agriculture reported export sales of US wheat in the latest week at 712,400 tonnes, above a range of trade expectations for 350,000 to 550,000 tonnes. Sales of hard red spring wheat, the type traded on the MGEX, accounted for 312,200 tonnes of the total. For the week, CBOT December wheat fell 12-1/4 cents a bushel or about 3 percent. K.C. December wheat fee 2-1/2 cents a bushel or 0.6 percent and MGEX December spring wheat rose 3-1/2 cents or 0.7 percent.