Wheat futures on the Chicago Board of Trade were lower early on Wednesday on technical selling by commodity funds and spillover weakness from declines in corn and soybeans, traders said. As of 10:45 am CDT (1545 GMT), September wheat was down 7-1/2 cents at $3.31 per bushel, dropping below its 200-day moving average at $3.32-1/2. Deferred months were down 6-1/2 to 7 cents.
ABN Amro sold 600 September contracts while Refco Inc, Cargill Investor Services and Calyon Financial each bought 200 September, traders said. Locals were early sellers, they said.
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