CBOT wheat futures rise as dollar weakens
CHICAGO, May 29 (Reuters) - Chicago Board of Trade wheat futures rose on Thursday as the U.S. dollar fell, but beneficial weather aided crop growth in the central United States.
CBOT July soft red winter wheat WN25 settled up 3-3/4 cents at $5.34 a bushel.
K.C. July hard red winter wheat KWN25 ended up 6-1/2 cents at $5.31-3/4 a bushel.
Minneapolis July spring wheat MWEN25 added 12-1/4 cents to finish at $6.15-1/2 a bushel.
The dollar weakened, reversing earlier gains, as investors prepared for a battle over President Donald Trump's tariff agenda after a U.S. trade court on Wednesday blocked most of the proposed trade levies. An appeals court had reinstated the tariffs as of Thursday afternoon after trading ended.
A weaker dollar tends to make U.S. exports cheaper and more competitive to holders of other currencies.
A Reuters poll of analysts estimated that the U.S. Department of Agriculture would report wheat export sales for the week ended May 22 at -200,000-100,000 metric tons. USDA/EST
Dry weather is anticipated across the central United States over the weekend, but widespread rain is expected during the 6-10 day period, benefiting wheat crops, according to Commodity Weather Group.
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