Wheat Complex Faces Pre-Weekend Selling Pressure

The wheat complex faced pressure on Friday due to money being taken off the table as traders prepared for the weekend. However, buyers were able to pull prices off their lows.

In Chicago SRW contracts, prices fell by 12 to 18 1/4 cents in the front months, with September closing at a loss of 4 ¾ cents on the week.

Kansas City HRW futures declined by 10 to 14 3/4 cents in the nearbys, while MPLS spring wheat fell back by 10 to 15 ¾ cents. Notably, September's price was 22 ½ cents higher this week.

The Ukraine proposed keeping vessels moving in the Black Sea, but no formal agreement has been reached between Ukraine and Russia.