Wheat futures on the Chicago Board of Trade were mostly lower at midsession on Tuesday in a technical setback from Monday's strong rally, brokers said.
The market was choppy in early trade, finding some support from follow-through buying from Monday and early strength in CBOT soyabeans. As of 11:45 am CST (1745 GMT), CBOT March wheat was down 3 cents at $3.11-3/4 per bushel, with deferreds down 4 to up 1-1/2 cents.
Calyon Financial was a featured early seller of 500 March contracts. Rand Financial and J.P. Morgan were net buyers of 100 to 300 March, traders said. The spot December contract, which expires on Wednesday, up was 1 cent at $3.00-1/2 in thin trade.