4 - 20 mA adc not giving correct values

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I am testing the KC868-AIO 4-20 mA analog input with a Fluke 705 Loop Calibrator, but I am not getting correct values.

Source voltage: 24 VDC
Channel AI-16 (see red wire). Black wire is disconnected.

Power source for signal is the same as the source for the AIO board.

Monitor Configuration:

Custom value1: 32
Custom value2: 180

Signal generated: 4.000 mA
value provided: ~52 (it should be 32)

Signal generated: 8.000 mA
value provided: ~79 (it should be 69)

Signal generated: 12.000 mA
value provided: ~104 (it is close to what it should be at 106)

Signal generated: 16.000 mA
value provided: ~131 (it should be 143)

Signal generated: 20.000 mA
value provided: ~167 (it should be 180)

Pictures:
705 Connection Example
Connections Pic
adc settings
adc output

Any idea what is going on?