Wheat Futures Little Lower

September Chicago Wheat is trading at 413 1/2, down 3 1/2 cents/bushel. December Chicago Wheat is trading at 436 1/2, down 2 1/4 cents/bushel. September Kansas City Wheat is trading at 408 3/4, down 1 cent/bushel. Wheat futures are trading near the session lows. The USDA winter wheat harvest report showed 94% complete versus 89 percent last week and 96 percent a year ago. The ten year average at this time of year is 91 percent. The spring wheat weekly crop condition report showed 68 percent of the spring wheat crop was rated good to excellent versus 69 percent a year ago. The spring wheat crop is about 30 percent harvested. The USDA reported on Monday that wheat export inspections as of August 4th are now 18.8 percent of the agency forecast versus the five year average of 19.5 percent.