Wheat Futures Little Lower

September Chicago Wheat is trading at 426 1/4, down 2 3/4 cents/bushel. December Chicago Wheat is trading at 454, down 2 1/4 cents/bushel. September Kansas City Wheat is trading at 422, down 1 1/4 cents/bushel. Wheat futures are trading rangebound early Tuesday morning. The weekly wheat harvest report showed 83 percent of the winter crop was harvested versus 76 percent last week and 82 percent a year ago. The ten year average is 80 percent. The weekly spring wheat crop conditions survey showed 68 percent rated good to excellent versus 69 percent last week and 71 percent a year ago. The ten year average is 67 percent. The USDA reported on Monday that wheat export inspections for the current marketing year are now 14.5 percent of the USDA forecast versus the five year average of 15.1 percent.