Wheat futures jump Monday as CBOT July rises 11 cents to $6.015 a bushel

Wheat futures surged on Monday, with the CBOT July contract up 11 cents to $6.015 per bushel and the KCBT July contract up 8 cents to $6.35 per bushel. Even as weekly U.S. wheat export inspections totaled just 133,700 tonnes, down 74.4% from a year earlier, prices strengthened on tightening-supply expectations. That view was reinforced by Saudi Arabia’s tender purchase of 661,000 tonnes of wheat and a drop in France’s good-to-excellent wheat rating to 68%, down 6 percentage points on the week.

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