CBOT wheat fell, the benchmark period closed down about 1.80%

On June 8, according to media reports, the CBOT soft red winter wheat futures market closed down, and the benchmark period closed down by about 1.80%.

After rising for five consecutive trading days and hitting the highest point in nearly three weeks, wheat prices fluctuated downward on Wednesday.

The U.S. Department of Agriculture is due to release a supply and demand report on Friday, fueling speculation that the government may raise its forecast for U.S. wheat production.

Analysts on average expect the U.S. wheat production estimate for 2023/24 to be revised up to 1.67 billion bushels, up from a May forecast of 1.659 billion bushels, according to a survey of analysts.