Wheat Collapses as Month‑End Selling Pulls Corn and Soybeans Lower

Overview

• Wheat fell sharply to close July after heavy month‑end liquidation, with front‑month Chicago, Kansas City and Minneapolis contracts posting the largest weekly losses.
• Corn and soybeans also finished the week lower as spillover from wheat, short‑term Midwest rain forecasts and profit‑taking weighed on front‑month contracts.
• USDA export data showed corn and soybean bookings running near or above seasonal pace while wheat sales lagged the typical marketing‑year pace, and private sales to China and other buyers continued to support soy demand.
• CFTC Commitment of Traders reports released this week showed big managed‑money moves that amplified price swings, including large additions to corn longs and sizeable cuts to hog short positions.
• Livestock markets diverged with cattle firming on tight slaughter rates and stronger boxed beef values while hogs were volatile but rebounded into the weekend; traders will watch next week’s monthly USDA crush and COT data and weather during the critical July–August crop window for further market direction.