Wheat futures at the Chicago Board of Trade dropped on Tuesday on better crop weather in the US Plains hard red winter wheat region, traders said. Rainfall this week in the Plains has helped diminish concerns about the fate of next year's HRW production.
Traders had been concerned that dry weather in the Plains may hamper seedings and early growth of the 2007 US HRW wheat crop. At 10:42 am CDT (1542 GMT), CBOT wheat was unchanged to 6-1/2 cents per bushel lower, with September down 4-3/4 at $3.61 per bushel.