Dollar Strength Weighs on CBOT Wheat Futures Near Six-Week Lows

Chicago Board of Trade (CBOT) wheat futures traded near unchanged on Friday, hovering close to six-week lows. The strength of the US dollar limited gains in the market, according to analysts. A Saudi Arabian import tender provided support to demand sentiment, but its impact was offset by the dollar's influence.

The CBOT corn contract saw a 1.05% decline to $4.97 a bushel, holding near Thursday's six-week low of $4.95. Soybeans also fell, down 0.55% to $12.77 a bushel, after touching a five-week low at $12.73-1/4.

Traders are closely watching the upcoming US Department of Agriculture's crop production report and World Agricultural Supply and Demand Estimates report next week. The size of this autumn's US corn and soybean harvest is expected to have a significant impact on market sentiment.