Wheat Futures Little Higher

March Chicago Wheat is trading at 406 1/4, up 2 cents/bushel. May Chicago Wheat is trading at 418 1/2, up 1 1/2 cents/bushel. March Kansas City Wheat is trading at 409 1/2 , up 3/4 of a cent/bushel. Wheat futures are trading rangebound. Market chatter about the global demand for U.S. wheat and overseas prices of wheat is making the rounds. The European Commission (EU) lowered its estimate for 2016 to 2017 European Union wheat production to 133.8 million tonnes versus 134.6 million tonnes on the previous estimate and 151.3 million tonnes in 2015 to 2016. The USDA World Agricultural Supply and Demand Estimates Report (WASDE) is scheduled for release Friday December 9th at 12:00 p.m. ET. The USDA weekly export inspection report for wheat is due out later today.