Wheat futures retreat Wednesday as Chicago July slips 9 3/4 cents to $5.99 1/2
Wheat futures fell across U.S. markets on Wednesday, led by a 9 3/4-cent drop in the CBOT July contract to $5.99 1/2 per bushel and a 7 1/2-cent decline in the KCBT September contract to $6.45 1/4. Attention is on USDA weekly Export Sales data due Thursday morning, with analysts looking for 250,000 to 600,000 MT of 2026/27 wheat sales for the week of July 2. Traders are also watching Friday’s Crop Production update, with a Bloomberg poll projecting all-wheat output at 1.527 bbu, down 17 mbu from last month. SovEcon trimmed its 2026/27 wheat production estimate by 0.2 MMT to 46.5 MMT.