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On Monday, the soft red winter wheat futures market on the Chicago Board of Trade (CBOT) closed slightly higher, with the benchmark contract up by 0.1%. The most active July contract traded between 596.25 cents and 613.75 cents. The benchmark contract fell below the $6 level for the first time in over two years during overnight trading, hitting a low of $5.9625, the lowest level since March 31st, 2021, before rebounding. Estimated trading volume for wheat futures on Monday was 99,718 contracts, compared to 96,014 contracts on the previous trading day. Open interest was at 375,233 contracts, up from 372,563 contracts on the previous trading day.
