Chicago Board of Trade most-active wheat futures fell following corn after the release of U.S. Department of Agriculture acreage and stocks data on Friday, according to analysts.

CBOT September soft red winter wheat WU24 settled down 6 cents at $5.73-1/2.

K.C. Sept. hard red winter wheat KWU24 closed down 9-1/4 cents at $5.87-1/2 a bushel.

MGEX September spring wheat MWEU24 settled flat at $6.18 a bushel.

Most active wheat Wv1 has dropped around 16% so far for the month, the biggest monthly drop since June, 2022.

Wheat followed the corn market down following Friday's USDA report release, analysts said.

USDA estimated total U.S. wheat plantings at 47.2 million acres, compared to its March estimate for 47.5 million and 49.6 million acres in 2023. Analysts on average expected plantings of 47.7 million acres.

U.S. wheat stocks stood at 0.702 billion bushels, according to the USDA. The trade estimate was 0.684 billion bushels of wheat.

Russia's Sovecon consultancy cut its wheat export estimate to 46.1 million metric tons from 47.8 mmt.

CBOT reported 1,129 deliveries against the CBOT July WN24 wheat contract on first notice day, in line with trade expectations.

Source: Reuters (Reporting by Renee Hickman in Chicago; editing by Philippa Fletcher)