CBOT wheat falls to fresh 3-month low
Chicago Board of Trade (CBOT) wheat futures fell to a fresh three-month low on Friday, pressured by Black sea supplies that compete with U.S. exports.
Most-active CBOT March soft red winter wheat (WH3) lost 22 cents to settle at $7.61 a bushel, the lowest for a most-active contract since August 19.
The spot December contract (WZ2) fell 21-1/2 cents to $7.37-1/4 a bushel.
K.C. March hard red winter wheat (KWH3) slid 19-1/2 cents to $8.70-3/4 a bushel, and MGEX March spring wheat (MWEH3) last traded down 16-3/4 cents at $9.21-1/4 a bushel.
Ukrainian farms had harvested 41.9 million tonnes of grain from 85% of the expected area as of Dec. 1, the agriculture ministry said.
Canada's all-wheat crop turned out smaller than expected due to dry conditions, about 900,000 tonnes smaller than it looked in September, Statistics Canada reported.
French crops are in good shape entering the winter with an estimated 98% of soft wheat in good or excellent condition in the week to Nov. 28.