Soft red winter (SRW) wheat futures at the Chicago Board of Trade were lower early Friday on slow exports and spill-over pressure from a drop in soybean prices, traders said.
At 10:07 am CDT (1507 GMT), CBOT wheat was down 1-3/4 to 3-3/4 cents per bushel, with September down 1-3/4 at $3.08-1/2. December was down 3-3/4 at $3.18-3/4. Pit sources said Man Financial was the key seller of 800 lots of December.
Traders said the wheat market was struggling because exports were quiet overnight. Some wheat sources had expected Egypt to post a tender for wheat late Thursday on the 6- to 7-cent drop in CBOT wheat futures on Thursday.
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