Soft red winter wheat futures at the Chicago Board of Trade were higher early on Wednesday amid worries that US winter wheat may be damaged by harsh weather, traders said.
Additional support is coming from the gains in the volatile soyabean pit, they said.
At 10:16 am CDT (1516 GMT), CBOT wheat was unchanged to 3-3/4 cents per bushel higher, with July up 1-3/4 at $3.79-3/4.
Prudential Securities bought 200 July and Refco Inc. sold 200 July, pit sources said.
Dry weather in the far western Plains HRW wheat area is expected to trim yield prospects. And excessive rains in SRW wheat areas of the eastern Midwest were leading to concerns about fungal diseases like scab and powdery mildew.
Much of the winter wheat crop is in its critical heading and flowering stage of development, leaving it vulnerable to weather damage.
Technical support in the July contract was at $3.65-1/4 per bushel and resistance was at $3.82-3/4.
The nine-day relative strength index for July stood at 56 prior to the open on Wednesday.
Chartists view an RSI of 30 or less as an oversold market and 70 or more as an overbought market.
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