Wheat futures at the Chicago Board of Trade were lower early on Friday and new contract lows were notched with the market dragged down by plunging soy, traders said.
At 10:01 am CST (1601 GMT), CBOT wheat was down 1-1/2 to 3 cents per bushel, with December down 2 at $3.02-3/4 per bushel. March was down 2-3/4 at $3.18-1/4. The new low for December is $3.02-1/4 per bushel, below the previous low of $3.03-3/4.
Pit sources said Iowa Grain was the main seller of 500 December and Refco Inc sold 200 March.