CBOT wheat bounces on technical trading
CHICAGO, June 27 (Reuters) - Chicago Board of Trade wheat futures rose on Friday as traders adjusted positions ahead of the U.S. Department of Agriculture's crop progress and quarterly stocks reports, which will be released on Monday.
CBOT September soft red winter wheat WU25 settled 4 cents higher to $5.40-3/4 per bushel.
K.C. September hard red winter wheat KWU25 finished unchanged at $5.33-3/4 a bushel and Minneapolis July spring wheat MWEN25 finished 2-1/2 cents higher to $6.28 a bushel.
Ahead of the U.S. Department of Agriculture's quarterly grain stocks and planting data, due on Monday, analysts predicted wheat stocks at 0.836 billion bushels, well above the agency's estimate of 0.696 billion bushels this time last year.
Grain markets are also turning their attention toward the U.S. Department of Agriculture's crop progress and quarterly stocks reports due Monday.
The International Grains Council (IGC) raised its 2025/26 world wheat crop outlook by 2 million tons to 808 million tons on Thursday.
Wheat also felt selling pressure ahead of the first notice day for the July contracts and the U.S. Department of Agriculture's closely-watched crop progress and quarterly stocks reports due on Monday.
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