Wheat futures are experiencing losses as of Monday morning, following a downward trend on Friday. The Chicago Board of Trade (CBOT) wheat closed at $5.67 3/4, down 6 1/2 cents, while Kansas City hard red winter (KCBT) wheat closed at $5.63 1/4, down 8 cents. Minneapolis spring wheat (MGEX) also declined, closing at $6.38 3/4, down 7 1/2 cents. This follows a significant rally earlier in the week due to heat and dryness concerns in Europe.
On June 12, the USDA reported wheat sales of 427,170 metric tons for the 2025/26 marketing year, exceeding trade estimates of 300,000 MT to 600,000 MT, but still 27.56% lower than the same week last year. Additionally, Russia’s wheat crop is now projected at 84.8 million metric tons, an increase of 4.5 million metric tons from previous estimates.
