Wheat gains

SINGAPORE: Chicago wheat futures edged higher on Friday with the market on track for its biggest weekly gain in eight months, underpinned by hot and dry weather threatening to reduce production in North America.

Corn eased, giving up some this week´s strong gains that lifted the market to a one-year high, while soybean prices were little changed after closing higher for the past five sessions. The Chicago Board of Trade most-active wheat contract is up 4.7 percent this week, the biggest weekly gain since mid-October 2016. Corn has risen 3.2 percent, the largest weekly gain since March 3, and soybeans are up 2 percent. Spring wheat futures were on track for a fourth week of gains, having risen 10.5 percent during the period.