Wheat futures at the Chicago Board of Trade were lower early on Friday in a setback from sharp advances earlier this week, including three-week highs on Thursday, traders said.
Declines in outside markets added to the bearish tone. Gold prices in New York were down after climbing to 25-year highs this week above $600 an ounce, and energy markets were also lower.
As of 11:05 am CDT (1605 GMT), CBOT wheat was down 1/2 to 3-1/2 cents, with front-month May down 2 at $3.50-1/2 per bushel. ABN Amro sold 200 May contracts, traders said.