CBOT wheat lower on weak demand

CHICAGO, April 13 (Xinhua) -- Chicago Board of Trade (CBOT) futures were trading lower on Friday morning with wheat prices dropping further on weak demand.

As of 1450 GMT, May corn was down 1.75 cents at 3.87 U.S. dollars per bushel, while May wheat was down 3.25 cents at 4.7775 dollars and May soybeans down 6.5 cents at 10.5425 dollars per bushel.

In the latest weekly export report released by the U.S. Department of Agriculture (USDA), wheat sales stood at 188,700 metric tons, far below the trade's expectation of between 250,000-650,000 metric tons.

Meanwhile, the USDA reported export sales of 2,464,500 metric tons of soybeans, beating the trade's expectation between 800,000-1,700,000 metric tons.

But the surge of soybean prices failed to continue on Friday morning as traders started to sell contracts to lock in profits. Enditem