Soft red winter (SRW) wheat futures at the Chicago Board of Trade turned lower early on Tuesday amid quiet exports and seasonal harvest hedge pressure, traders said. Exports were quiet overnight and there are no large-volume export tenders on the horizon, they said.
Persistent pressure on corn and soy amid nearly ideal crop weather in the Midwest also was caused spillover selling in the wheat pit.
At 9:59 am CDT (1459 GMT), CBOT wheat was down 1 to 2-1/4 cents per bushel, with September down 1-3/4 at $3.22.
Pit sources said local traders were selling the market and Calyon Futures sold 200 September.
Technical support in the September contract was at $3.20 per bushel and resistance was at $3.28-1/2.
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