Wheat Futures Trading Lower
December Chicago Wheat is trading at 400, down 7 1/2 cents/bushel. March Chicago Wheat is trading at 425 1/2, down 6 1/2 cents/bushel. December Kansas City Wheat is trading at 411 1/2, down 5 1/4 cents/bushel.
Wheat futures are trading choppy and at session lows.
The weekly export inspection report for wheat is due out later today.
Street estimates for Russia's wheat production are now near 73.0 million tonnes. Street estimates for Australian wheat production are near 28.0 million tonnes versus the recent USDA estimate of 26.5 million tonnes.
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