Soft red winter wheat futures at the Chicago Board of Trade were mixed in early dealings with the market seeking direction following Monday's rally to two-week highs, traders said. Locals and large speculators were on both sides of the market and the volume wasn't very large. At 10:07 am CST (1607 GMT), wheat was down 1 cent to up 1 cent per bushel, with March down 1 at $3.05 per bushel.
Refco Inc sold 400 March, Cargill Investor Services bought 400 March and FIMAT Futures bought 200 March, pit sources said.
Some underpinning may be stemming from market talk that cold weather might harm some of the US winter wheat crop.
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