CBOT wheat futures fall

Chicago Board of Trade wheat futures fell about 1 percent on Tuesday, reversing from prior higher prices in a technical sell-off, traders said. Midday weather models also showed slightly higher chances for rains in the parched southern US Plains growing region - precipitation that would help winter wheat plants exiting dormancy.
Wheat prices had rallied overnight in the wake of the US Department of Agriculture crop ratings, which showed deteriorating conditions in top wheat state Kansas. The CME Group reported nine deliveries against CBOT March wheat - the first of the cycle - and three March K.C. wheat deliveries. There were four MGEX March spring wheat deliveries.