CBOT wheat dips on smaller-than-expected purchases by China
CHICAGO, Nov 7 (Reuters) - Chicago Board of Trade wheat futures fell on Friday on investor disappointment about modest Chinese purchases of wheat from the United States following a bilateral trade truce.
China booked two cargoes of U.S. wheat following last week's meeting between the countries’ leaders, traders said on Thursday, the first such purchases since October of last year.
But, the volume of the purchases was lower than trade expectations, said analysts, raising concerns about the future of demand.
CBOT December soft red winter wheat WZ25 fell 7-3/4 cents to end at $5.27-3/4 a bushel.
K.C. December hard red winter wheat KWZ25 ended down 3 cents at $5.19-1/4 a bushel, while Minneapolis December spring wheat MWEZ25 fell 1 cent to end at $5.58 a bushel.
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