Chicago Wheat Rebounds on Weaker Dollar and Black Sea Attacks

Chicago wheat futures rebounded on Friday after hitting a four-week low, supported by a weaker US dollar and reports of more attacks in the Black Sea export zone.

The most-active CBOT contract ended 8.5 cents higher at $6.39.75 per bushel.

Traders were also assessing news of fresh export demand and weakness in the US dollar, which helped keep a floor under corn prices. The most-active corn contract ended unchanged at $4.62 per bushel.

Soybeans, however, dipped lower after a bullish tone faded from news of Chinese purchases of US supplies. China has bought at least 10 more cargoes of US soybeans, traders said on Thursday.

Market analysts noted that investors were adjusting positions ahead of next week's key government crop reports, including the USDA's monthly crop supply and demand report scheduled for August 12.