US MIDDAY: wheat lower

Wheat futures at the Chicago Board of Trade were lower at midmorning on Thursday, pressured by fund selling and beneficial rains in parts of the US Plains and Midwest winter wheat regions, traders said.
As of 11:05 am CST (1705 GMT), CBOT March wheat was down 5 cents at $3.71 per bushel and most-active May was down 2-1/4 at $3.82-1/4.
Fimat USA sold 1,500 May contracts while Man Financial and Refco-Man each sold 1,000 May, traders said. Early action was choppy as funds bought wheat at the open, briefly lifting May to a one-week high at $3.87-1/2. Traders were monitoring storms crossing the US midsection.