Wheat futures at the Chicago Board of Trade fell early Wednesday, with the market setting back further from the technical fund short-covering rally on Monday, traders said. Analysts and traders continue to cite the plentiful stocks of wheat globally to meet demand as the overriding reason thwarting attempts to rally prices. At 10:10 am (1610 GMT), March wheat was down 4-1/4 at $2.95 per bushel. Other months were 3-1/4 to 4-1/2 cents per bushel lower.

Prudential Securities sold 500 May and R.J. O'Brien sold 200 May, pit sources said.

Copyright Reuters, 2005