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. CST (1430 GMT) on Friday.
Wheat – Down 6 to 8 cents per bushel
Wheat futures edged down, losing steam after a short-lived rally fueled by U.S. tariff exemptions for major trading partners Mexico and Canada.
Additional pressure also came from expectations of a bumper harvest in top consumer China.
On Thursday, U.S. President Donald Trump suspended the tariffs he imposed this week on most goods from Canada and Mexico, the largest buyer of U.S. wheat in 2024.
Ratings for France’s main wheat crop improved slightly last week but remained close to last year’s rain-hit levels, farm office FranceAgriMer reported.
CBOT May soft red winter wheat was last down 6-3/4 cents to $5.47-1/4 per bushel. K.C. May hard red winter wheat was last down 7 cents to $5.58-3/4 a bushel, and Minneapolis May spring wheat was down 7-1/2 cents to $5.86-1/2 a bushel.
US soy, corn, wheat rise for second day on tariff relief hopes
Corn – Down 1 to 3 cents per bushel
Corn futures tipped down as traders evaluated fluctuating U.S. trade policy, while also squaring positions ahead of the weekend and next week’s U.S. Department of Agriculture’s supply and demand report.
Trump had imposed 25% tariffs on imports from Mexico, one of the largest buyers of U.S. corn, and Canada on Tuesday.
CBOT May corn was last down 1-1/2 cents to $4.62-1/2 per bushel.
Soybeans – Down 2 to 3 cents per bushel
Soybean futures edged down after a two-day rally fueled by U.S. tariff exemptions, with traders continuing to monitor U.S. trade policy.
soybean imports rose in the first two months of the year, as supplies from the United States booked before U.S. President Donald Trump took office arrived, but traders expect flows to slow in March after some buyers brought forward shipments in anticipation of tit-for-tat tariffs.
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