Wheat futures on the Chicago Board of Trade fell Thursday morning as traders took profits following a run-up in the spot contract to a near five-month high earlier this week. Spot corn prices also were lower on profit-taking, but soyabean futures were up early amid ongoing concerns about hot and dry weather conditions in Argentina.
Gains in the soyabean complex were pared later in the morning following a sell-off in crude oil futures and a strengthening of the US dollar. Expectations of index fund rebalancing in January weighed on corn and wheat prices, sending them to their session lows in mid-morning trade.
CBOT trends at 10:29 a.m. CST (1629 GMT) on Thursday:
-- March wheat down 18-3/4 cents at $7.80-1/2 per bushel.
-- March corn down 7-3/4 cents at $6.16-1/4 per bushel.
-- January soyabeans down 3/4 cent at $13.65-1/4 per bushel.
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