CBOT wheat declines on sluggish export demand, adequate US supplies

CHICAGO, June 12 (Reuters) - Chicago Board of Trade wheat futures declined on Thursday on sluggish export business and seasonal pressure as the harvest of an adequately sized U.S. wheat crop got rolling, traders said.

• CBOT July soft red winter wheat WN25 settled down 7-3/4 cents at $5.26-1/2 per bushel after dipping to $5.26, its lowest since May 19,

• K.C. July hard red winter wheat KWN25 ended down 3-1/2 cents at $5.22-3/4 a bushel while Minneapolis July spring wheat MWEN25 finished up 3-1/2 cents at $6.20-3/4, gaining against CBOT and K.C. wheat on inter-market spreads.

• The U.S. Department of Agriculture trimmed its forecast of wheat inventories for the end of the 2025/26 marketing year but left its U.S. production estimates virtually unchanged.

• The USDA lowered its forecast of U.S. 2025/26 wheat ending stocks to 898 million bushels, from its previous estimate of 923 million, and cut its global 2025/26 wheat stocks forecast to 262.76 million metric tons, from 265.73 million in May. Both figures fell below most analysts' expectations.

• The USDA left its forecast of the U.S. 2025 wheat harvest at 1.921 billion bushels, with winter wheat production unchanged at 1.382 million bushels.

• The government reported net export sales of U.S. wheat in the week ended June 5 at 388,900 metric tons, below a range of trade expectations for 400,000 to 600,000 tons. EXP/WHE

• Euronext wheat futures inched lower and held near contract lows as a jump in the euro further dented export prospects while increased estimates of the upcoming European Union harvest reinforced expectations of abundant Northern Hemisphere supply.