Wheat Little Higher

Wheat Futures are trading a little higher Friday morning. July Chicago Wheat is trading at 528 1/2, up 6 1/2 cents. July Kansas City Wheat is trading at 563 3/4, up 6 cents. Chatter about wet weather in the plains and dry weather in Russian and Canadian growing regions has been making the rounds. The USDA reported that weekly wheat export sales were 202,600 tons. U.S. agricultural futures are closed on Monday in observance of the Memorial Day Holiday. Chatter about positioning before the holiday may lead to choppy pre-holiday trading and possible wide ranges. The European Union reported export licenses for the week of 647,000 tons; the EU has exported 29.1 million tons versus just under 26 million a year ago.