Wheat futures on the Chicago Board of Trade were mostly higher at midmorning on Wednesday in quiet technical trade, gaining back more ground against Kansas City wheat in inter-market activity, traders said.
Early strength in soybean futures provided light support as well.
As of 11:20 am CDT (1620 GMT), CBOT December wheat was up 1 cent at $3.22-1/4 per bushel, with deferred months up 3/4 to down 1/2 cent.
ABN-Amro and Kottke each bought 500 December contracts, while locals were light buyers as well, traders said.
The spread, or premium, for KCBT December wheat over CBOT wheat narrowed to about 34 cents. That was down from 43 cents on Friday, after strong export demand for hard wheat and a tight cash market at the Texas Gulf sent KCBT futures soaring while CBOT wheat languished.
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