Wheat Lower

The USDA reported Monday that weekly wheat export inspections were 445,674 tons. Wheat futures are trading lower Tuesday after Monday's decline. May Wheat is trading at 498 1/2, down 3 3/4 cents. July Chicago wheat is trading at 496 3/4, down 3 1/2 cents. May Kansas City Wheat is trading at 523 3/4, down 6 3/4 cents. Market talk about weather has kept sellers active. Chatter about world supplies and the continued overall increase in EU exports continues. Chatter that buyers are backing away until harvest comes is making the rounds. With world supplies still hefty buyers are in no rush to book U.S. wheat. Some market talk of possible Chinese easing prospects have so far carried little weight.