Wheat Futures Trading Steady

December Chicago Wheat is trading at 414 1/4, down 1/4 cent/bushel. March Chicago Wheat is trading at 434, up 1/2 of a cent/bushel. December Kansas City Wheat is trading at 416 3/4, down 1/4 of a cent/bushel. Wheat futures are trading steady. The International Grains Council (IGC) placed global wheat production at 748 million tonnes, 1.0 million above the previous estimate and above 737 million tonnes a year ago. ICG said higher Black Sea region wheat production was the reason for the increase. The Buenos Aires Grain Exchange kept Argentina's wheat planted area at 4.3 million hectares and wheat production at 12.5 million tonnes. The USDA reported on Thursday that wheat export sales for 2016 to 2017 as of October 20th are now 60.5 percent of the forecast versus the five year average of 59.5 percent.