U.S. wheat futures slide across three exchanges as winter harvest reaches 48%

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.