Wheat futures edged down to around $5.60 per bushel as the market corrected after US President Donald Trump paused tariff plans on imports from Canada and Mexico. Traders also analyzed the latest US winter wheat conditions, with Kansas showing improvement while other regions declined. Meanwhile, Argentina’s recent cut in grain export taxes raised expectations of increased shipments. Additionally, grain consultancy Sovecon adjusted its Russian wheat export forecast for the 2025/26 season to 38.3 million tonnes, up from 36.4 million, while lowering the 2024/25 estimate to 42.8 million tonnes from 43.7 million.

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