Soft red winter wheat futures on the Chicago Board of Trade were mixed in choppy midmorning trade on Tuesday, gaining ground against the Kansas City wheat market, traders said. Pressure from the advancing harvest and spillover weakness from corn, gold and crude oil limited advances.
As of 11:10 am CDT (1610 GMT), spot July wheat was unchanged at $3.73-3/4 per bushel, staying below its 100-day moving average of $3.77-3/4. Deferred months were up 2 cents to down 1/2.
Refco Inc sold 300 July wheat contracts, while Fimat USA bought 800 July, helping to lift futures off their early lows. Kansas City Board of Trade July wheat was down 3-1/2 cents at $4.76.
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