“According to the USDA, as of June 30, an estimated 47% of U.S. winter wheat acres are experiencing drought conditions, down 10% from the previous week. During the same period, spring wheat area in drought declined 6% to 19%,” Doherty said. “Wheat faded off daily highs to close in a mixed manner. A combination of harvest pressure on the winter crop, a lack of fresh friendly news, and a lower close for MATIF wheat futures all weighed on the market. The USDA also reported an increase of 11 mb of wheat export sales for 2026-27. Shipments last week totaled 13.4 mb, which falls below the 14.5 mb pace needed per week to reach their 775mb export goal. Wheat export commitments have reached 213 mb for 2026-27, down 19% from last year.”