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 Thursday.
Wheat – Up 3 to 5 cents
CBOT wheat reached a four-week high amid some concerns that dry wheat-growing areas may miss out on expected rains this weekend, traders said.
Wind will erode soil in the southwestern quarter of the Plains on Thursday, and the western quarter of the region will be left the driest after the next two weeks, Commodity Weather Group said.
The International Grains Council trimmed its estimate for world wheat output, while consultancy Sovecon raised its forecast for Russia’s crop.
The U.S. Department of Agriculture reported U.S. wheat export sales of 76,500 metric tons for 2024-25 and of 273,900 for 2025-26 in the week ended on April 10. Both were within analysts’ expectations.
CBOT May soft red winter wheat was last up 4 cents at $5.51-3/4 per bushel. K.C. May hard red winter wheat was last up 7-1/2 cents at $5.65-1/2 a bushel, and Minneapolis May spring wheat was last up 4-1/4 cents at $6.08 a bushel.
Weak US dollar lifts wheat prices
Corn – Steady to 1 cent higher
Corn futures consolidated after rising on Wednesday to a seven-week high, traders said.
The International Grains Council raised its global corn production forecast.
Weekly U.S. corn export sales were 1.6 million metric tons for 2024-25, within analysts’ estimates.
CBOT May corn was last 3/4 cent higher at $4.85 per bushel.
Soybeans – Up 3 to 5 cents
Traders are monitoring U.S. plantings and said that farmers have made good progress this week.
Rains will stall Midwest seedings through the weekend, Commodity Weather Group said.
USDA reported weekly U.S. soybean export sales of 554,800 metric tons for 2024-25, within expectations. Of that total, sales to top-importer China were 72,791 metric tons.
Traders continue to monitor news on the U.S.-China trade war.
CBOT May soybeans were last up 4-1/4 cents at $10.43 per bushel.
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