KC wheat trades both sides of unchanged

Kansas City wheat futures traded both sides of unchanged today, felling pressure early from strength in the U.S. Dollar, and outside markets, traders said. 

Some consolidation after yesterday's rally was due in the market, traders said.  Weakness in gold and crude oil also influenced the lower move, traders added.

USDA weekly wheat export sales were estimated this morning at 627,600 metric tonnes, and better than seen in previous reports, traders said. 

This included 200,000 metric tonnes of wheat to Iraq. 

Kansas City wheat futures turned higher and some additional fund buying came back into the marketplace.

KC Dec wheat was 3 cents higher at $5.49 at midday.

CASH GRAIN: The basis feels steady and quiet, with not many cars around, traders said.