CBOT wheat ends firm on short covering, but lower in the week
CHICAGO, Oct 3 (Reuters) - Chicago Board of Trade wheat futures edged higher on Friday on a weaker U.S. dollar and on short-covering and follow-through buying after the market hit contract lows at midweek.
CBOT December soft red winter wheat WZ25 was 1/2 cent higher at $5.15-1/4 per bushel. For the week, the contract was down 0.9%, its third straight weekly loss.
K.C. December hard red winter wheat KWZ25 last traded down 3-1/4 cents at $4.95-3/4 a bushel.
Minneapolis December spring wheat MWEZ25 fell 1 cent to finish at $5.59-3/4 a bushel.
A U.S. government shutdown since Wednesday amid political deadlock over budget funding will likely delay the release of key U.S. Department of Agriculture reports, including weekly crop progress data and a monthly crop supply and demand outlook on Thursday.
The U.S. dollar =USD headed for its worst week since late July. A weaker dollar tends to make U.S. exports cheaper and therefore more competitive on the global market.
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