Wheat futures on the Chicago Board of Trade sagged on Thursday on technical selling and forecasts for welcome rains in parts of the US Plains and Mississippi River Delta winter wheat areas, traders said. Corn was choppy, and a firmer dollar hung over the market.
But soyabean futures were firm on continued brisk demand for US soyabeans and bullish supply/demand fundamentals following USDA's November 9 crop report. CBOT trends at 10 am CST (1600 GMT) on Thursday: December wheat down 4 cents at $7.06 a bushel. CBOT December wheat dipped below support at its 50-day moving average of $7.04. KCBT December down 3 cents at $7.69-3/4; MGEX December spring wheat down 2 at $7.80. December corn up 1 cent at $5.67-3/4 a bushel. November soyabeans up 5-1/2 cents at $13.15 per bushel; January up 5 at $13.24-1/2.
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