U.S. wheat futures drop on dollar rally

CHICAGO, Feb 26 (Reuters) - U.S. wheat futures fell on Friday, with a firm dollar spurring traders to take risk off the table as they squared positions at the end of the month. * Traders said the U.S. Department of Agriculture's bearish export sales report and big crops in places like Australia and India also added pressure to the market. * The benchmark Chicago Board of Trade May soft red winter wheat contract dropped below five-day average before finding support at its 30-day moving average. * CBOT wheat fell 0.4% during February, only its second monthly decline since June. * K.C. hard red winter wheat futures dropped 2.1% during February, its first monthly decline since June, while MGEX spring wheat eased 0.6%. Last Net Pct Low High Volum chng chng e WHEAT SRW MAR1 655.00 -16.75 -2.8 653.00 665.75 1445 WHEAT SRW MAY1 660.25 -15.50 -2.3 658.25 674.00 52584 WHEAT HRW MAR1 624.75 -19.50 -2.6 627.00 637.00 871 WHEAT HRW MAY1 633.75 -18.75 -2.9 632.50 650.50 24200 SPG WHT MAR1/d 630.00 -11.50 -1.8 629.75 638.50 228 SPG WHT MAY1/d 638.00 -12.50 -1.9 637.00 648.75 4232 (Reporting by Mark Weinraub)

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