Soft red winter wheat futures at the Chicago Board of Trade were firmer early Tuesday on follow-through fund short-covering supported by rallies in corn and soybeans, traders said.
Wheat futures were about 5 cents per bushel higher across the board by 11:56 am CDT (1656 GMT). September was up 5-1/2 cents at $3.08-1/4 and December was 5-1/4 higher at $3.22.
Funds net bought roughly 1,000 wheat contracts by the midsession, floor traders said.
The market was technically oversold and due for a post-harvest bounce. The nine-day relative strength index for September closed on Monday at 30, after closing on Friday at 13, still at the 30 level viewed as an oversold market.