Chicago SRW wheat futures posted front-month losses of 9 to 12 and three-quarter cents on Friday, with the July contract finishing 27 and a half cents lower on the week.
Kansas City HRW futures fell 9 to 11 and three-quarter cents in the red on the day, while the July contract recorded a weekly loss of 33 cents.
Minneapolis spring wheat dropped 8 and a half to 11 and three-quarter cents lower on Friday, with the July contract shedding 47 and a half cents across the full week.
The July 2026 CBOT Wheat contract closed at $5.78 and a quarter, down 12 and three-quarter cents, while the September 2026 contract settled at $5.89 and three-quarters, off 11 and three-quarter cents.
Kansas City July 2026 wheat closed at $6.11, falling 9 and a half cents, with the September contract finishing at $6.19 and a half, down 11 cents on the session.
Minneapolis July 2026 MIAX Wheat closed at $5.76 and a half, lower by 11 and three-quarter cents, while September settled at $6.05 and a quarter, down 9 and three-quarter cents.
CFTC data revealed that managed money added 1,675 contracts to their net short position in the week ending June 23, pushing the total net short to 71,206 contracts.
In Kansas City wheat futures and options, speculative traders flipped back to a net short of 1,285 contracts, representing a swing of 8,905 contracts from the prior reporting period.
On the export front, wheat sales stand at 5.522 million metric tons, which is down 16% from last year and represents just 26% of the USDA export projection, trailing the 28% five-year average.
FranceAgriMer estimated the French soft wheat crop at 74% in good or excellent condition, a decline of 2 percentage points from the prior week, with harvest listed at 7% complete.
The French durum crop was rated at 58% good or excellent, falling 6 points from the week prior, with 19% of that crop already harvested.
Traders are also watching Tuesday’s annual June Acreage report, where all wheat acres are expected to come in at 43.8 million, with spring wheat at 9.5 million acres and durum at 2 million acres, according to a Bloomberg survey of traders.
