Soft red winter wheat futures on the Chicago Board of Trade were sharply lower at midsession on Tuesday as a broad-based commodities sell-off triggered fund selling, traders said.
Wheat prices had added pressure from the expanding US winter wheat harvest and forecasts for mostly open weather.
Funds had sold 2,000 to 3,000 wheat contracts and 5,500 corn contracts by midmorning, traders said.
As off 11:30 am CDT (1630 GMT), CBOT July wheat was down 9 cents at $3.89-1/2 per bushel after falling to $3.88-1/2, a three-week low. Deferred months were down 9-1/2 to 11-1/2 cents.