Wheat futures on the Chicago Board of Trade were mixed at midsession on Wednesday, retreating from early strength in response to fund selling in the Kansas City wheat market, traders said.
As of 11:20 am CST (1720 GMT), CBOT December wheat was flat at $2.97 per bushel after climbing to $2.99 earlier in the day. Deferred months were up 1/2 cent to down 3/4.
Iowa Grain was an early buyer of 200 March, traders said.
Prices opened firm on a technical bounce from Tuesday's drop to contract lows, but turned lower when funds began liquidating long positions at the Kansas City Board of Trade. KCBT December wheat was down 5-1/2 cents at $3.46.