US MIDDAY: wheat falls on bearish exports

Wheat futures at the Chicago Board of Trade dropped early on Thursday amid bearish exports and crop weather, traders said. At 10:06 am CDT (1506 GMT), CBOT wheat was down 2-1/2 to 4 cents per bushel. December was down 2-1/2 at $3.42-1/2 per bushel.
Prudential Securities sold at least 300 December and FIMAT Futures sold 200 December, pit sources said. USDA early Thursday in its weekly export sales report said export sales of US wheat last week totalled 475,500 tonnes, near the low end of a range of estimates.
Export activity overnight was viewed as routine and included South Korea's purchase of 110,000 tonnes of feed wheat and Japan bought 80,000 tonnes of wheat with 40,000 tonnes coming from the United States.