Chicago Board of Trade wheat futures closed mixed on Friday with the benchmark December contract (WZ25) ending a choppy session fractionally lower a day after rising 1.8%.

CBOT December soft red winter wheat (WZ25) settled down 1/2 cent at $5.12-1/2 per bushel.

For the week, the contract rose 8-3/4 cents a bushel or 1.7%, stabilizing a bit after setting a contract low on October 14.

Plentiful global wheat supplies continue to hang over U.S. wheat futures, capping rallies.

K.C. December hard red winter wheat (KWZ25) ended up 1-1/2 cents at $5.01-1/2 a bushel and Minneapolis December spring wheat (MWEZ25) finished down 1 cent at $5.57 a bushel.

In cash markets, premiums for U.S. hard red winter wheat shipped by rail to or through Kansas City held steady on Friday after firming for several grades this week in what is typically a sign of demand from domestic flour mills.

European wheat futures edged higher on Friday as traders looked ahead to U.S.-Chinese trade talks and assessed rumors that Chinese buyers were inquiring about foreign wheat.

Sowing of winter grains has advanced rapidly in much of Europe amid favorable weather, raising the prospect of a steady planted area despite low market prices, analysts said.
Source: Reuters