Wheat is trading with 4 to 8 cent losses early on Monday morning. The wheat complex fell back into the long weekend with losses across the three exchanges. Chicago SRW contracts were down 1 ½ to 7 ¼ cents at the close, with July still up 21 ¼ cents on the week. Open interest was down 2,302 contracts. KC HRW futures closed with losses of 4 ½ to 8 ½ cents on Thursday, as July was up 9 ½ cents on the week. OI dropped 2,628 contracts. MPLS spring wheat was mixed, down 2 ½ cents to fractionally higher, with July up 4 ¾ cents last week.
Export Sales data was released on Thursday, with a total of 400,844 MT of 2026/27 wheat sales in the week of June 11. That was down 6.16% from the same week last year. Japan was the largest buyer of 167,400 MT, with 80,300 MT sold to Mexico. There was an additional 26,900 MT reported for 2027/28 all to the Philippines.
