Wheat Little Higher

Wheat futures are trading a little higher Tuesday morning. September Chicago Wheat is trading at 503 1/2, up 4 1/2 cents and December Chicago Wheat is trading at 510, up 5 cents. September Kansas City Wheat is trading at 492 3/4, up 3 3/4 cents and December Kansas City Wheat is trading at 512, up 1/4 cents. September and December Kansas City wheat hit set new contract lows on Monday.

Market Chatter about harvest in western Europe and the Black Sea region is making the rounds. On Monday, the USDA reported that weekly wheat export inspections were 298,048 tons. Wheat export inspections for the 2015-2016 marketing year are just over 12 percent of the USDA forecast versus a five-year average of 16.8 percent.