U.S. wheat futures fall Thursday as CBOT, KCBT contracts drop 3–13 cents
AI Market Summary
US wheat futures pulled back after an overnight push to multi-year highs as weekly export sales remained less than half of last year's comparable week, signaling soft demand. Spring wheat tour results implied marginally improved supply versus the five-year average, reinforcing downside pressure. The combination of weaker demand and better supply expectations tightened the risk-reward for longs and weighed on CBOT and KCBT contracts.
Impact level
● Medium
Affected assets
NCCOWHEAT2USD/USDT-0.34%
AI Insight · NCCOWHEAT2USD/USDTAI Insight
▼ Bearish
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U.S. wheat futures broadly moved lower on Thursday, with key CBOT and KCBT contracts down 3–13 cents. USDA export sales data showed weekly wheat exports of 290,000 tons, down more than 50% from a year earlier. Spring wheat tour estimates put yield at 48 bushels per acre, above the five-year average but below last year. Together, the figures point to marginally improved supply and softer demand, adding pressure to prices.
