CBOT wheat falls on harvest pressure, favorable weather

CHICAGO, June 24 (Reuters) - Chicago Board of Trade wheat sank on Tuesday on pressure from the ongoing harvest in the U.S. Plains and Black Sea as well as a lack of weather threats, analysts said.

• CBOT September soft red winter wheat WU25 settled down 17-1/2 cents at $5.52 per bushel.

• K.C. September hard red winter wheat KWU25 fell 15-1/4 cents to end at $5.49-3/4 a bushel and Minneapolis July spring wheat MWEN25 finished down 3-1/2 cents at $6.41-3/4 a bushel.

• Dry weather in the U.S. Plains has helped the winter wheat crop dry down after drenching rains in previous weeks, and experts predict the wheat harvest will accelerate this week.

• Broadly favorable production prospects for wheat across the Northern Hemisphere were also weighing on the market.

• Argus Media has increased its forecast for Russia's 2025/26 wheat production, now projecting output to reach 84.8 million tons and come in well above last year's 81.3 million tons.

• The U.S. Department of Agriculture rated 49% of the U.S. winter wheat crop and 54% of the spring crop good to excellent as of Sunday in its weekly crop progress and condition report. Those ratings were both 3 points below the previous week and 3 points below the average analyst estimates in a Reuters poll.

• The winter wheat crop harvest accelerated to 19% complete, up from 10% last week.