Wheat Futures Trading Lower

December Chicago Wheat is trading at 391, down 4 3/4 cents/bushel. March Chicago Wheat is trading at 416 1/2, down 3 cents/bushel. March Kansas City Wheat is trading at 429, down 1/2 of a cent/bushel. Wheat futures are trading just above the session lows. Market talk about global supplies of wheat and the overseas price of wheat is making the rounds. The USDA reported on Friday that wheat export sales for the current season as of November 17th are now 69.3 percent of the agency forecast versus the five year average of 65.4 percent.