CBOT July soft red winter wheat was last 5-1/4 cents lower at $6.51-1/4 per bushel. K.C. July hard red winter wheat was last down 3-1/4 cents at $6.01-1/4 per bushel. MGEX July spring wheat was last 1-1/4 cents lower at $6.81-1/2 per bushel.
Ukraine exported 6 million tonnes of corn to China between October 2020 and March 2021, 5.0 million tonnes to the European Union, 1.7 million tonnes to Egypt and 3.2 million tonnes to other destinations.
Ukraine harvested around 30 million tonnes of corn in 2020 and the economy ministry said the export would not exceed 24 million tonnes in 2020/21.
Corn stocks are likely to rise 51% to 2.4 million tonnes, with high reserves putting pressure on domestic grain prices in the medium term, APK-Inform said in a report.
The grain stocks will also include 1.5 million tonnes of wheat and 1 million tonnes of barley.
Good soil moisture that is boosting crop prospects in key growing areas pressures wheat futures.
On a continuous basis, the most-active CBOT soft red winter wheat contract hit a three-month low overnight and was on track for a weekly drop of 2.6%, which would be its biggest since early February.
Wheat heads lower on improving crop weather in the US Plains winter wheat belt and a lack of supportive news.
CBOT May soft red winter wheat last traded down 3-3/4 cents at $6.36-1/4 per bushel. K.C. May hard red winter wheat was last down 6 cents at $5.95 a bushel and MGEX May spring wheat was down 2-3/4 cents at $6.30-1/2.
Speaking at an online event organized by a bank, Dias reiterated the government's plan to increase Brazil's overall food production in a bid to boost internal supplies and rein in food price inflation.
"It is my perception that perhaps agriculture commodities prices will take another leap," she said.