CHICAGO: Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday.
Wheat – Down 9 to 10 cents per bushel
CBOT wheat futures head lower for a third straight session, following broad declines in commodities and equities as U.S. President Donald Trump’s sweeping tariff plans sow fears about a global recession.
Conditions of French soft wheat improved slightly in the week to March 31, farm office FranceAgriMer said, indicating that crops have benefited from dry weather in parts of the country.
Wheat futures underpinned by worries about dry conditions in the U.S. Plains winter wheat belt while heavy rains pose a flood risk in soft red winter wheat areas of the Ohio River Valley.
CBOT May soft red winter wheat was last down 10 cents at $5.26 per bushel. K.C. May hard red winter wheat was last down 8-3/4 cents at $5.60-1/4 a bushel and Minneapolis May spring wheat was last down 7 cents at $5.84-1/4 a bushel.
Corn – Down 4 to 5 cents per bushel
Corn futures turned lower after China said it would impose additional tariffs of 34% on all U.S. goods in retaliation of a similar duty announced by President Trump. Declines in soybeans, crude oil and global equity markets add to bearish sentiment.
However, the benchmark CBOT May corn futures contract stayed inside of Thursday’s trading range in early moves.
Soybeans, wheat extend losses after China’s counter tariffs
Rains this week slow early planting in the eastern U.S. Corn Belt and slow barge movement on Midwest rivers but add beneficial soil moisture.
CBOT May corn was last down 4-3/4 cents at $4.52-3/4 per bushel.
Soybeans – Down 22 to 25 cents per bushel
Soybean futures slide to three-month lows below $10 a bushel after China, the world’s largest soy buyer, announced a slew of countermeasures against U.S. tariffs, including additional duties of 34% on all U.S. goods.
Benchmark CBOT May soybeans dipped to $9.84, the contract’s lowest since Dec. 24, before paring losses.
CBOT May soyoil fell 4%, pressured by a 7% drop in U.S. crude oil futures. Soyoil is a feedstock for biodiesel fuel.
CBOT May soybeans were last down 23-1/2 cents at $9.88 per bushel.
American Dollar Exchange Rate