Wheat Futures Trading Higher

December Chicago Wheat is trading at 416 1/2, up 5 cents/bushel. March Chicago Wheat is trading at 435 3/4, up 3 3/4 cents/bushel. December Kansas City Wheat is trading at 419 1/2 , up 2 1/2 cents/bushel. Wheat futures are trading just under the session highs after Wednesday's firm trading day. Market chatter about Russian wheat supplies and global wheat demand is making the rounds. The Russian Grain Union has estimated that Russia's wheat production will be near 72.5 million tonnes this year. The most recent USDA estimate is 72.0 million tonnes. There is chatter on the street that Russia's wheat production will be near 71 million tonnes. The USDA weekly export sales report for wheat is due out at 8:30 a.m. ET. Trading is expected to be choppy ahead of the end of the month.