Wheat Little Higher
July Chicago Wheat is trading at 492 3/4, up 3 1/2 cents. December Chicago Wheat is trading at 512 1/2, up 2 3/4 cents. July Kansas City Wheat is trading at 513 1/4 , up 4 1/2 cents. December Kansas City Wheat is trading at 539 1/2, up 3 3/4 cents. On Monday, the USDA reported that weekly wheat export inspections were 377,847 tonnes.
Chatter about wheat supplies outside the USA is making the rounds. Argentina approved 1 million tonnes of wheat for export. Australian agricultural officials reduced the nations wheat production estimate to 23.6 million tonnes versus the prior estimate of 24.4 million due to expected impacts from El Nino.
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