KCBT wheat futures lower at midday

Kansas City wheat futures prices were under pressure this morning, traders said, with good weather for corn and soybean harvest pressuring the wheat market.

Winter wheat plantings were also weighing on the market, as were unemployment numbers, traders said.

There was some intra-market spread trading, rolling from the Dec contract to the March contract, according traders.

KC Dec wheat was 6 1/2 cents lower at $5.11 at midday.

CASH GRAIN: There was a steady tone to the cash market this morning, with limited receipts, traders said.