Wheat futures on the Chicago Board of Trade were mostly firm at midday on Tuesday after rising to contract highs on concerns about drought in the southern US Plains, traders said. Spillover weakness from a downturn in soybeans pushed wheat futures off their peaks.
As of 12:05 pm CST (1805 GMT), CBOT March wheat was up 1/2 cent at $3.73-3/4 per bushel. Most-active May was up 3/4 at $3.86-1/2 after rising to $3.90-1/2, above the previous contract high of $3.88.
Fimat USA was the featured buyer of 1,800 May contracts, traders said. KCBT May wheat was up 1-1/2 cents at $4.48 after reaching a new high at $4.53-1/2.
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