Wheat futures at the Chicago Board of Trade were higher early on Tuesday amid thin trade as the US winter wheat crop's condition continued to decline, traders said.
At 10:02 am CST (1602 GMT), CBOT wheat was up 1 to 2-3/4 cents per bushel, with December up 2-3/4 at $3.14-1/2 per bushel. Pit sources said locals were the main buyers. Also, Transmarket bought 200 December and Refco Inc bought 100 March and 200 July.
Dry weather in parts of the US winter wheat belt has been stressing the newly sown crop. USDA on Monday said 56 percent of the US winter wheat crop was in good to excellent condition, down from 57 percent a week ago.
Meteorlogix weather on Tuesday said more precipitation was needed to support crop growth in the southern portion of the US Plains hard red winter wheat region.
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