KC wheat tries to bounce higher

Kansas City wheat futures were trading lower by midsession, despite a small bounce earlier that separated wheat markets from weaker corn and soybean futures, according to traders. 

Rain is in the forecast again for the Midwest in the next couple of days, traders said, but drier weather is in store going into the weekend and next week. 

Illinois is estimated to have 33% of the winter wheat crop planted, compared to the 82% 5-year average, traders said.

Kansas City traded mixed this morning, with funds reluctant to sell early.

KC Dec wheat was 5 1/2 cents lower at $5.05 at midday.

CASH GRAIN: The basis feels firmer today with not a lot of cars around, traders said.