Wheat futures fall in Chicago as dollar rises

Wheat futures on the Chicago Board of Trade, known as the Chicago Board of Trade, fell, affected by the rise in the dollar and the thin trading ahead of the Christmas holiday.

Soft red winter wheat futures – the most traded on the Chicago Board of Trade – for March delivery fell 5.75 cents to about $5.35 a bushel.

Hard red winter wheat futures in Kansas City for March delivery fell 7.25 cents to about $5.44 a bushel, and spring wheat on the Minneapolis Grain Exchange for the same month fell 6 cents to about $5.90 a bushel.

Reuters reported, citing analysts, that the wheat harvest season in both Australia and Argentina has ended, allowing more grain supplies to the international market.

Analysts indicated that the rainy season may move across the dry central and southern plains region in the United States during the coming week, which will benefit the hard red winter wheat crop.

This comes as the dollar holds onto recent gains against a basket of major currencies. The strength of the US currency limits the ability of US grain exports to compete in global markets.