Wheat Futures Decline Amid Strong Dollar
Investors observed a pull‑back in U.S. wheat contracts on the Chicago Board of Trade on Thursday, ending a three‑day rally as the broader grain market lost momentum ahead of the three‑day U.S. holiday weekend. The U.S. dollar index advanced after the Federal Reserve kept its policy rate unchanged on Wednesday, with policymakers indicating an intention to raise borrowing costs later in 2026 because inflation remains above the 2 % target.
The July soft red winter wheat contract settled 7 cents lower at $6.05‑3/4 per bushel. The most‑active September contract finished down 7‑1/4 cents at $6.14 per bushel. In the hard red winter segment, the K.C. July contract closed 8‑1/2 cents lower at $6.44 per bushel, while the Minneapolis July spring wheat contract fell 2‑1/2 cents to $6.23 per bushel.
A stronger dollar makes U.S. commodities more expensive for overseas buyers, adding pressure to grain prices. Chicago markets will be closed on Friday in observance of the Juneteenth holiday, pausing further trading activity.