CBOT wheat ends lower on rising US condition ratings

CHICAGO, June 10 (Reuters) - Chicago Board of Trade wheat futures fell to their lowest level in more than a week on Tuesday as improving U.S. crop condition ratings and seasonal pressure overshadowed early harvest delays and drought in Russia, traders said.

• CBOT July soft red winter wheat WN25 settled down 7-1/2 cents at $5.34-1/2 per bushel after dipping to $5.30-3/4, its lowest since May 29.

• K.C. July hard red winter wheat KWN25 ended down 10-1/4 cents at $5.27-1/4 a bushel and Minneapolis July spring wheat MWEN25 fell 9-1/4 cents to finish at $6.13-1/4 a bushel.

• Wheat futures slid after the U.S. Department of Agriculture on Monday raised its ratings of the U.S. spring and winter wheat crops more than most analysts expected. The government rated 53% of the spring wheat crop in good-to-excellent condition, up from 50% the previous week, and winter wheat ratings improved by 2 points to 54% good-to-excellent.

• The improvements, signaling rising yield potential, appeared to outweigh concerns that the U.S. winter wheat harvest was only 4% complete, lagging the five-year average of 7%.

• Russia's largest grain-producing region, Rostov, declared a state of agricultural emergency in some drought-hit areas.

• However, Russia's 2025 grain harvest is seen at 135 million metric tons, above last year's level of 130 million tons, Interfax news agency quoted Deputy Prime Minister Dmitry Patrushev as saying.

• Benchmark wheat prices on Euronext fell below the psychological 200 euro floor to a contract low as improving crop prospects in the Northern Hemisphere reinforced expectations of ample supplies.

• Traders await the USDA's monthly supply/demand reports, due Thursday, which will include updated estimates of U.S. 2025/26 wheat production.