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 – Down 2 to 6 cents a bushel
Wheat futures lower on poor weekly export sales data and a firmer U.S. dollar. Supply concerns due to dry U.S. Plains weather and slowing Russian exports limited market declines.
Technical selling weighed on prices as actively traded CBOT May wheat hit overhead chart resistance at its 50- and 100-day moving averages in overnight trading then later fell below chart support at its 20-day average.
The U.S. Department of Agriculture (USDA) reported a net decline of 248,900 metric tons in U.S. wheat sales for the 2024/25 marketing year in the week ended March 13, well below expectations for net positive sales of 300,000 to 700,000 tons. However, new-crop sales of 491,100 tons topped trade estimates.
CBOT May soft red winter wheat was last down 5-1/4 cents at $5.58-1/4 per bushel. K.C. May hard red winter wheat was last down 8 cents at $5.86-3/4 per bushel, and Minneapolis May spring wheat was down 3 cents at $6.08-3/4 per bushel.
Wheat up 1-3 cents, soybeans steady-up 2, corn mixed
Corn – Up 1 to 4 cents a bushel
Corn futures firm as strong weekly export sales underpinned prices. Traders are beginning to square positions ahead of a U.S. plantings report at the end of the month.
Actively traded May futures encountered overhead technical chart resistance at its 100-day moving average during overnight trading.
The USDA reported a net 1.5 million metric tons in U.S. corn sales last week for shipment in the 2024/25 marketing year, near the high end of a range of trade estimates.
CBOT May corn was last up 3-1/2 cents at $4.65-1/2 per bushel.
Soybeans – Down 3 to 5 cents a bushel
Soybeans down for a fourth straight session on tariff concerns and slowing U.S. export demand, with a bumper South American crop flooding the global market.
Ahead of an expected shift to Brazilian supplies, Chinese imports of U.S. soybeans jumped 84.1% in the first two months of 2025 compared with a year ago as concerns about tariffs led to a rush in shipments.
The USDA reported net U.S. soybean sales last week at 352,600 metric tons for shipment in the 2024/25 marketing year, below trade estimates for 400,000 to 900,000 tons.
CBOT May soybeans were last down 3 cents at $10.05-1/4 per bushel.
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