CBOT wheat dips on smaller-than-expected purchases by China

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.