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Grain and oilseed futures dropped sharply over the last week as funds liquidated long positions and favorable Corn Belt weather eased supply concerns. HRW wheat closed lower for 12 straight sessions, with July at $6.30, and the July delivery basis in Oklahoma was -45 to -55.
Outstanding HRW sales for the next marketing year were 30.4 million bushels, down from 43.6 million a year earlier.
Lower HRW wheat prices and weaker forward sales point to reduced demand pressure for feed wheat in the near term, though a smaller HRW crop could support prices later. Corn and oilseed price declines also lower feed input costs.
oklahomafarmreport.comKC SheperdJun 9, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
