July wheat was trading 5 1/4 cents higher near 7:30 am cst. Outside market forces look supportive today with a higher stock market and a lower US dollar helping to support. With a key production report for tomorrow morning and outside forces turning positive, the market saw a recovery bounce overnight. Traders expect to see a significant revision lower in production for the report on Tuesday but yield reports are mixed. Questionable weather for the Black Sea region and China has traders looking for significant revisions lower in world supply as well. US ending stocks for both the old crop and new crop seasons are expected to slip about 20 million bushels. Old crop ending stocks were 768 million bushels last month and new crop was 735 million bushels. Traders see a 50-60 million bushel decline in winter wheat production from 1.694 billion bushels projected in May. Traders also see world ending stocks slipping down about 3 million tonnes from 188.13 million in May. The market saw an inside trading day on Friday with a fairly tight range and gave back part of Thursday's strong gains. The market seemed to react to talk of the overbought condition and concerns that the surge in the US dollar is helping to discourage buyers of US wheat. Weekly export sales were slow this past week as the surge in wheat prices in May plus the dollar appreciation helped to limit export activity. Europe still has exportable wheat and the collapse in the euro may have attracted buyers. France exported 1.2 million tonnes in April and this pushed the total for the season to 13.8 million tonnes, down 17%. The ongoing US wheat harvest was seen as a limiting factor on the rally Friday. Jordon has tendered to buy 100,000 tonnes of wheat and Ethiopia is in the market for 35,000 tonnes. The Commitments of Traders reports as of June 5th showed Non-Commercial traders were net short 8,373 contracts, an increase of 17,778 contracts which represents a change from a net long to net short position. The aggressive selling pace of the fund trader is seen as a short-term bearish force. Non-Commercial and Nonreportable combined traders held a net short of 34,075 contracts, up a whopping 22,848 contracts in just one week. Commodity Index traders held a net long of 198,763 contracts, down a significant 7,841 for the week.