Chicago Board of Trade wheat futures closed slightly lower on Thursday after choppy trade, gaining support from bullish U.S. Department of Agriculture data and pressure from large global supplies and traders adjusting positions ahead of the long U.S. holiday weekend.
U.S. markets will be closed on Friday in observance of the Independence Day holiday.
CBOT September soft red winter wheat CBOT:ZW1! settled down 1/4 cent at $5.99-3/4 a bushel.
K.C. September hard red winter wheat (KWU26) ended up 3-1/2 cents at $6.38-1/2 a bushel and Minneapolis September spring wheat (MWEU26) rose 1/4 cent to finish at $6.18-3/4 a bushel.
The U.S. Department of Agriculture on Tuesday estimated that U.S. farmers planted 42.7 million acres of wheat for 2026, below a range of trade expectations. The government projected total harvested wheat acres at 32.1 million acres.
The USDA reported total weekly net export sales of wheat for the week ended June 25 at 300,100 metric tons.
Argentina's wheat planting accelerated over the past week as mostly dry weather improved field conditions across key agricultural regions, the Buenos Aires Grains Exchange said on Thursday.