On Tuesday, the U. S. wheat futures dropped, extending its two-day losses to three percent. The forecasts of beneficial rains in the U. S kept what prices close to its five-week low. The drop came in spite of the U. S. Department of Agriculture (USDA) marking the condition of the crop, lower than the market expectations.
Looking at some crop futures, the most active wheat futures on the Chicago Board of Trade dropped 0.11 percent to $4.46-3/4 a bushel. It closed 2.8 percent down on Monday, a time when prices touched its five-week low of $4.46 a bushel.