CBOT wheat ends lower on slow export demand, rainy US forecasts
CHICAGO, April 6 (Reuters) - Chicago Board of Trade wheat futures fell to their lowest in nearly two weeks on Monday on signs of sluggish export demand and forecasts for timely rains that could benefit crops in portions of the drought-stressed U.S. Plains wheat belt, traders said.
CBOT May soft red winter wheat WK26 settled down 3 cents at $5.95-1/4 per bushel.
K.C. May hard red winter wheat KWK26 ended down 6 cents at $6.08-1/4 a bushel and Minneapolis May spring wheat MWEK26 fell 2-1/4 cents to finish at $6.44-1/2 a bushel.
Rains were expected late this week in the central Plains wheat belt, but the showers were likely to fall short in eastern Colorado and western Kansas, the Commodity Weather Group said in a daily note.
The U.S. Department of Agriculture reported export inspections of U.S. wheat in the latest week at 334,106 metric tons, in line with trade expectations for 300,000 to 500,000 tons. USDA/I
In its first weekly crop progress report for 2026, released after the CBOT close, the USDA rated 35% of the U.S. winter wheat crop in good-to-excellent condition, down from 48% a year ago.
Analysts surveyed by Reuters on average had expected the government to rate 42% of the crop as good to excellent.
The USDA also reported that the U.S. spring wheat crop was 2% planted as of Sunday, compared to the five-year average of 3%. Analysts surveyed by Reuters on average had estimated spring wheat planting progress as 3% complete.
A Russian ship carrying wheat that was believed to have sunk in the Sea of Azov after a Ukrainian drone attack has been found and towed to shore, while the death toll from the attack has risen to three, state news agency TASS said.
