US MIDDAY: wheat lower

Wheat futures at the Chicago Board of Trade fell to three-week lows early on Thursday, following the Kansas City market on forecasts for rain in the US Plains late this week, traders said.
As of 10:30 am CDT (1530 GMT), CBOT May wheat was down 5-1/2 cents at $3.43 per bushel. Most-active July was down 5-1/2 at $3.56-1/4, falling through key support at its 200-day moving average of $3.59-1/4.
Selling was vigorous and broad-based from the opening bell. Man Financial and Citigroup were among the featured players, each selling 400 to 500 July contracts, traders said.