Wheat Futures Little Changed

September Chicago Wheat is trading at 416 1/2, down 1/2 of a cent/bushel. December Chicago Wheat is trading at 436 1/2, down 1/4 of a cent/bushel. September Kansas City Wheat is trading at 409, down 1 cent/bushel. Wheat futures are trading rangebound. Market chatter about global supplies of wheat and the USDA crop report due out Friday is constant. The USDA weekly wheat export sales report is due out Thursday morning. The agency is scheduled to release World Agricultural Supply and Demand Estimates Report (WASDE) and crop production data Friday. The Institute for Agricultural Market Studies in Russia (IKAR) raised their Russian wheat crop estimate to 70 million tonnes versus 69 million tonnes. The July USDA estimate was 65 million tonnes. Street estimates for the French wheat crops are now around 28.7 million tonnes.