Soft red winter wheat futures at the Chicago Board of Trade fell early on Thursday on spill-over selling from an abrupt drop in corn and soya, traders said.
China's switch of an order for US soft red winter wheat to hard spring wheat also pressured futures, they said.
At 10:14 am CDT (1514 GMT), CBOT wheat was 1/2 to 3-1/4 cents per bushel lower, with May down 1/2 at $3.98-1/2. July was down 2-1/2 at $4.05-1/2.
Refco Inc and R.J. O'Brien each sold 300 July, FIMAT Futures sold 200 July, Term Commodities sold 100 July, and Prudential Securities bought 200 July, pit sources said.
Technical support in the July contract at $4.05-1/2 per bushel was broken, driving the contract to a session low of $4.04. Resistance was at $4.10-1/4. The nine-day moving average for July stood at 69 prior to the open on Thursday. Chartists view an RSI of 30 or less as an oversold market and 70 or more as an overbought market.
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