Chicago Board of Trade wheat futures were higher early on Thursday on a mild recovery after Wednesday's 5 to 7 cents break and on supportive export news, traders said.
At 10:15 am CST (1615 GMT), CBOT wheat was up 2 to 4-1/4 cents per bushel, with March up 3-3/4 at $3.78-1/2.
Carr Futures bought 500 March and Prudential Securities bought 400 March. Cargill Investor Services sold 100 March.
Traders said support stemmed from USDA's weekly export sales report on Thursday which showed US wheat sales last week at 580,600 tonnes, above estimates for 300,000 to 500,000 tonnes. Another 105,000 tonnes of wheat were sold to China.
Technical support in the March contract was at $3.73 per bushel and resistance was at $3.84. The nine-day relative strength index for March stood at 24 prior to the open on Thursday. Technical traders view an RSI of 30 or less as an oversold market and 70 or more as an overbought market.
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