Wheat futures at the Chicago Board of Trade were lower at midsession on Wednesday, setting back from Tuesday's mildly higher close under the influence of declines in soybeans and corn, traders said. "Wheat came into today's session with a bearish tone, given its failure to hold on to gains yesterday.
Today, without the support of the other markets, there was little reason for the wheat market to move higher," Prudential Securities analyst Shawn McCambridge said. As of 11:40 am CDT (1640 GMT), December wheat was down 2 cents at $3.19 per bushel, with deferred months down 2 to 3 cents.
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