Wheat Little Lower

Wheat futures are trading steady to a little lower Friday morning. September Chicago Wheat is trading at 560, down 2 1/2 cents and December Chicago Wheat is trading at 568 1/2, down 2 1/2 cents. September Kansas City Wheat is trading at 550 1/4, down 3 cents and December Kansas City Wheat is trading at 570, down 3 cents. On Thursday, the USDA reported that weekly wheat export sales were 291,500 tons. For the crop year wheat sales are 25.1 percent of the USDA forecast for 2015/2016, the five-year average is 30.9 percent. The European Union reported that export licenses for 470,000 tons of wheat were granted this week. Some forecasts for European production of Corn and wheat have been lowered slightly.