Prices fell on all three US exchanges on Monday, led by spring wheat. On the CBoT, September lost 4.00 US cents to 542.25 US cents/bushel - the September contract for spring wheat lost 9.00 US cents and was last at 587.50 US cents/bushel.
The harvest of winter wheat stocks in the USA is 73% complete, which is slightly above average. The advancing harvest is increasing selling pressure. The condition of North American spring wheat stocks deteriorated slightly: according to the USDA, the proportion of good to very good stocks fell by 2% to 52%.
The USDA's new export data provided bullish news. At 732,290 tons, the weekly export check showed a significant increase compared to the previous week (444,631 tons). Since the start of the new US economic year on June 1, exports have totaled 3.021 million tonnes - an increase of almost 14%. In addition, an agreement was signed with Bangladesh for annual deliveries of 700,000 tons of US wheat.
Wheat also closed in red territory on Euronext. September lost €0.50 to €202.00/t.
