CBT WHEAT FUTURES EASE TO MIXED BY MIDSESSION
CBT wheat futures closed from early
contract highs in new crop to trade quietly mixed at
midsession, ranging from up 3/4 cent per bushel in May to down
3/4 in new crop July.
    After opening higher on follow-through speculative buying
after yesterday's technically strong close, prices eased on
trade-talk that some countries who were holding buying tenders
this week have rejected U.S. offers or have taken wheat from
other exporting countries, traders said.
    However, the strong chart picture probably will limit
declines, they added.
    Cargill Grain was the featured seller in new crop July,
sparking rumors that the U.S. is currently not competitive on
the World wheat market, even with government programs.
 Reuter
