Wheat futures at the Chicago Board of Trade were sharply lower early on Tuesday on technical selling by funds that pushed the market into sell-stops, traders said.
As of 11:01 am CDT (1601 GMT), CBOT December wheat was down 6 cents at $3.30-1/4 per bushel after falling to $3.29-1/2, a nearly three-week low. Deferred months were down 1 to 7 cents. Fimat Futures, Refco Inc and Prudential each sold 200 to 300 December contracts, traders said. December fell through its 50-day moving average at $3.32.