US MIDDAY: wheat turns down

Chicago Board of Trade soft red winter wheat futures turned lower on profit-taking early Thursday after December hit resistance at $3.39-1/2 per bushel, traders said.
CBOT December wheat has climbed about 15 cents in the past week on a fund-led short-covering rally sparked by worries about the quality of the Canadian and US spring wheat crops.
The Canadian Prairies and the Northern US Plains have been plagued by cool, wet weather during the growing season, which stalled harvest and was damaging crops, traders said. CBOT wheat futures were 2-1/4 to 2-1/2 cents per bushel lower by 10:10 a.m. CDT (1510 GMT). December was down 2-1/2 cents at $3.34-3/4.