Chicago Board of Trade wheat futures fell to new contract lows early on Tuesday amid thin volume, traders said.
Wheat traders said that wheat futures continue to be burdened by the record-large world wheat output this year. Commercial trader Term Commodities was a seller of at least 200 December and local traders sold the market.
At 10:34 am CDT (1534 GMT), CBOT wheat was down 2 to 3 cents per bushel, with December down 2-1/2 at $3.00 per bushel. The new contract low for December is $2.99.