U.S. wheat futures fall for biggest weekly loss in five months
CHICAGO, Jan 22 (Reuters) - U.S. wheat futures fell on Friday, marking the biggest weekly decline in more than five months after rallying alongside corn and soybeans.
* The most-active CBOT wheat futures contract lost 26-1/4 cents to end at $6.34-1/2 per bushel, dropping 4%, its biggest fall since August 12, 2019.
* K.C. hard red winter wheat futures lost 22-1/2 cents to $6.13-1/4 per bushel and MGEX spring wheat ended 22-3/4 cents lower at $6.12-1/2 per bushel.
* For the week, the most-active wheat contract fell 41 cents, losing 6%, its biggest drop since the week ending August 7, 2020.
* The U.S. Department of Agriculture (USDA) said U.S. wheat export sales in the week ended Jan. 14 totaled 329,700 tonnes, near the low end of trade forecasts for 250,000 to 650,000 tonnes.
* Sovecon has raised its Russian 2021 wheat crop forecast to 77.7 million tonnes from 76.8 million citing improved weather conditions in January, the agricultural consultancy said.
* Turkey's state grain board TMO has purchased an estimated total of 400,000 tonnes wheat in an international tender for the same volume which closed on Friday, traders said. (Reporting by Christopher Walljasper; Editing by Andrea Ricci)
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