U.S. wheat futures slide across three exchanges as winter harvest reaches 48%
AI Market Summary
US wheat futures fell across CBOT, KCBT, and MIAX as winter wheat harvest progress (48%) runs ahead of normal, reinforcing near-term supply pressure. Export inspections were weak at 358k MT, down 9.6% w/w and 24.8% y/y, adding demand concerns. Focus shifts to the June 30 Grain Stocks and Acreage reports, where expectations for elevated inventories and steady-to-slightly higher area could sustain bearish tone.
Impact level
● Medium
Affected assets
NCCOWHEAT2USD/USDT+2.53%
AI Insight · NCCOWHEAT2USD/USDTAI Insight
▼ Bearish
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U.S. wheat futures fell across CBOT, KCBT and MIAX on Monday, with the lead contracts down 8–30 cents. NASS Crop Progress data showed winter wheat harvest at 48% as of Sunday, ahead of normal, while spring wheat development lagged its five-year average. Weekly export inspections totaled 358,253 MT for the week of 6/25, down 24.83% from the same week last year. Markets are also positioned for Tuesday’s June Acreage and quarterly Grain Stocks reports, with expectations centered on 43.8 million wheat acres and 931 million bushels in stocks as of June 1.
