Wheat Futures Trading Lower

September Chicago Wheat is trading at 409 1/2, down 5 1/2 cents/bushel. December Chicago Wheat is trading at 430 3/4, down 4 1/4 cents/bushel. September Kansas City Wheat is trading at 410 1/2 , down 3 1/4 cents/bushel. December Kansas City Wheat is trading at 436 1/4, down 3 3/4 cents/bushel. Wheat futures are trading rangebound just above the lows of the day. Market chatter about global demand for U.S. wheat and the supply of wheat overseas is making the rounds. Russia's Minister of Economy said he supports the elimination of the export duty on Russian wheat exports.