Wheat futures on the Chicago Board of Trade were lower in rangebound trade early on Friday, after Thursday's higher technical close, traders said. As of 10:55 am CDT (1555 GMT), CBOT December was down 3 cents at $3.29-1/4 per bushel. Deferred months were down 3 to 3-3/4 cents.
Rand Financial was an early seller of 500 December contracts and Prudential sold 300, while UBS Warburg bought 1,000 December, traders said.
Weakness from sharp declines in soybean futures spilled over into wheat. Soybeans tumbled 13-14 cents as November fell through a key support level, while concerns that the spread of bird flu could reduce demand for poultry feed added pressure. There was little fundamental news to drive the wheat market, and technical trade has been the feature this week as funds adjust their positions.