Grain futures on the Chicago Board of Trade were mixed on Tuesday, with Minneapolis Grain Exchange March high-protein wheat leading other wheat contracts higher early, traders said. In general, an expected sell-off on news that China's central bank raised interest rates was muted by still-strong bullish sentiment and a lower US dollar. Soyabeans were slightly higher, with the weak dollar credited for the uptick.
Some market players appear willing to buy dips, but the upcoming release on Wednesday of USDA's February supply/demand and crop production reports is keeping a lid on corn and soya prices. CBOT trends as of 10:15 am CST (1615 GMT) on Tuesday: March wheat up 13-1/4 cents at $8.72 per bushel. March corn down 1/4 cent at $6.74-1/2 per bushel. March soyabeans up 2 cents at $14.26-1/2 per bushel.
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