July wheat opened 1 1/2 cents lower this morning at 762 1/2 and established an early range of 759 to 775 1/4. Wheat opened lower and found support early on a lack of fresh selling according to floor traders. They indicate that commission house sell stops were a feature during yesterday's break. Traders indicate that there was no fresh news this morning other than continued pressure in Asia and Europe due to expectations of a large 2008 world wheat crop. Providing some support is continued dryness concerns for Australia as rain is needed in some dry areas to get the crop planted. This week's Export Sales Report showed total wheat sales near the high end of trade expectations. Net sales were 120,700 tonnes in old crop and 443,600 tonnes in new crop. Sales of 227,200 tonnes are needed each week to reach the USDA old crop projection. Total sales to date stand at 98.0% compared to a 5-year average of 95.5%. Hard red wheat (KC) sales were heavy for next year, but near zero for the current marketing year. Soft red (Chicago) sales were heavy at 124,400 tonnes for the current marketing year. Japan and Mexico were the week's biggest buyers.