Wheat futures eased to $6.2 per bushel, retreating from a nearly two-year high of $6.5 reached on April 28, as weather forecasts pointed to rainfall across dry US wheat regions this week. The latest outlook suggests that parts of the western Plains, which have been under prolonged drought stress, could receive meaningful precipitation, easing supply concerns. Market participants are also awaiting the latest US Department of Agriculture crop progress report, due after Monday’s close, for updated planting and condition data. Some areas in the central and eastern grain belt are still delayed in planting due to wet and cold conditions. On the supply side, India has resumed wheat exports for the first time in four years, taking advantage of ample domestic stocks, stronger global prices, and improved freight economics.

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