Wheat follows dollar, retreats from Monday's rally

Kansas City wheat futures traded lower this morning, retreating from yesterday's rally that was fueled by fund buying, according to traders. 

Kansas City prices opened on the lows of the morning, following strength in the U.S. Dollar, traders added. 

The dollar came off of morning highs, traders said, to aid in a bounce off of lows in KC wheat. 

Corn and soybeans are now trading off of reports that wet weather is returning to the forecast earlier than expected, as early as next Monday and Tuesday, traders said.  Harvest delays remain a concern for row crop grains.

KC Dec wheat was 4 3/4 cents lower at $5.15 1/4 at midday.

CASH GRAIN: Cars are not trading as firm as yesterday, and the basis feels slightly weaker, traders said.