Wheat Little Changed

Wheat futures are trading steady Monday morning after Friday's sharp move higher. September Chicago Wheat is trading at 570 1/2, up 2 1/2 cents and December Chicago Wheat is trading at 576 1/2, up 1/2 of a cent. September Kansas City Wheat is trading at 570, up 1 cent and December Kansas City Wheat is trading at 588 1/2, unchanged on the day. Trading is range-bound.

Chatter about soft red winter wheat conditions in the U.S. and poor conditions for Canada and France continues. Market chatter about El Nino's possible impact on Australia wheat is starting to surface. Market talk about month end positioning, currency values and global financial market volatility has kept both buyers and sellers active overnight.