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 Tuesday.
Wheat – Down 2 to 4 cents
CBOT wheat continued to sag after the most-active contract on Friday hit the highest level since March 24.
Traders eyeing forecasts for improved rain in dry wheat-growing areas of the Plains.
They are also waiting for more news on U.S. President Donald Trump’s trade policies.
CBOT May soft red winter wheat was last down 3-1/4 cents at $5.44-1/4 per bushel. K.C. May hard red winter wheat was last down 5-1/2 cents at $5.49-3/4 a bushel, while Minneapolis May spring wheat was last down 2-1/4 cents at $6.02-1/2 a bushel.
Soy down 22-25 cents, corn down 4-5 cents, wheat down 9-10 cents
Corn – Flat to up 2 cents
Corn futures reached their highest level since February 27 as strong U.S. exports continue to support the market, analysts said.
Exporters struck deals to sell 110,000 metric tons of U.S. corn to Portugal for 2024-25 delivery, the U.S. Department of Agriculture said in a daily reporting system.
The USDA said on Monday that 4% of the nation’s crop was seeded, below analysts’ estimates for 6%.
Rains this weekend are expected to limit field work, including in the parts of the Delta and Ohio Valley regions, Commodity Weather Group said.
U.S. farmers are expected to expand plantings of sorghum this spring, although the U.S.-China trade war has slowed export sales. Sorghum is used to make ethanol or livestock feed in the U.S., similar to corn.
CBOT May corn was last up 1/2 cent at $4.85-1/2 per bushel.
Soybeans – Down 6 to 8 cents per bushel
CBOT soybeans pulled back after hitting a seven-week high on Monday.
Trump’s trade war with Beijing has accelerated China’s shift toward Brazilian soybeans.
The National Oilseed Processors Association is expected to report on Tuesday that the U.S. soybean crush increased in March to the highest-ever level for that month.
The USDA said on Monday that 2% of the nation’s soybean crop was planted.
CBOT May soybeans were last down 7-1/2 cents at$10.34-1/4 per bushel.
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