US MIDDAY: wheat steadies on export data

Soft red winter wheat futures at the Chicago Board of Trade were firm early Thursday on better-than-expected export data and a bounce from a slide on Wednesday, traders said.
Wheat futures were 3-1/2 cents to 5-1/2 cents per bushel higher by 10:40 a.m. CDT (1540 GMT). September was up 5-1/2 at $3.07-1/4.
Funds were the featured buyers, including Refco and Rand Financial, traders said. The US Department of Agriculture said on Thursday last week's export wheat sales were 743,200 tonnes, above traders' estimates for 400,000 to 500,000 tonnes.
Of special interest was 234,000 tonnes of white wheat purchased by Pakistan. Traders had been awaiting news of whether the 150,000 tonnes of optional-origin white wheat that Pakistan bought last week would be sourced from the United States.