CBOT, KCBT and MGE wheat firm; turn lower

11 May, 2008

CBOT, KCBT and MGE wheat opened firm on support from rallying corn and soya but quickly turned lower on bearish wheat numbers in USDA's May wheat production and supply/demand reports, traders said.
At 9:36 am CDT (1436 GMT), CBOT wheat was down 3/4 cent to 7 cents per bushel, with July down 6 cents at $8.16 per bushel. KCBT wheat was down 5-1/2 to 11 cents, with July down 11 at $8.57 and MGE wheat down 4-1/4 to 15 cents, with July down 4-1/4 at $9.99 per bushel.

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