Wheat futures at the Chicago Board of Trade turned lower early on Tuesday on rains in the Plains hard red winter wheat region and an Egyptian snub of US wheat, traders said.
At 10:03 am CDT (1503 GMT), CBOT wheat was down 3/4 to 2-1/2 cents per bushel, with May down 2-1/2 at $3.76. July was down 1-3/4 at $3.83-1/2.
Rains over the weekend should slow the decline in hard red winter wheat conditions, and additional rainfall is expected to move through the US Great Plains hard red winter wheat region this week, a private forecaster said on Tuesday.
Deliveries on the May contract remained light at only 15 lots on Tuesday and a Tenco customer stopped all of the wheat.
Technical support in the July contract was at $3.82-1/2 and resistance was at $3.93.
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