US MIDDAY: wheat tumbles

US wheat futures fell to their lowest level in more than two weeks early on Friday due to plentiful world supplies and a higher dollar which dimmed export prospects, traders said. Soyabean futures dropped to a one-week low, their fourth straight day of declines, also on bearish outside markets. Corn futures were close to unchanged as signs of export demand allowed it to buck the bearish headwinds.
At 10:16 am CST (1616 GMT), Chicago Board of Trade March soft red winter wheat was down 4 cents at $6.42 a bushel. Prices bottomed out at $6.35-1/4, their lowest level since January 25. CBOT March soyabeans were down 5-3/4 cents at $12.21-3/4 a bushel and CBOT March corn dropped 1/4 cent to $6.36-3/4 a bushel.