Wheat down 7-9 cents, corn down 2-4 cents, soy mixed

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 Monday.

Wheat – Down 7 to 9 cents

Profit-taking weighed on CBOT wheat overnight after most-active futures on Friday hit their highest level since March 24.

Traders braced for another volatile week as U.S. President Donald Trump’s imposition and then postponement of tariffs on imported goods continue to sow confusion.

The dollar languished near a three-year low, which is seen as supportive for export demand for U.S. grains.

CBOT May soft red winter wheat was last down 8-3/4 cents at $5.47 per bushel. K.C. May hard red winter wheat was last down 12 cents at $5.56 a bushel, and Minneapolis May spring wheat was last down 7-1/2 cents at $6.07-1/2 a bushel.

EU wheat steadies

Corn – Down 2 to 4 cents

Corn futures eased overnight after reaching a six-week high on Friday. The market was overbought, though U.S. export demand remains supportive for futures, traders said.

Exporters sold 120,000 metric tons of U.S. corn to Japan for 2024-25 delivery, the U.S. Department of Agriculture said in a daily reporting system.

The USDA is slated to issue a weekly progress report at 3 p.m. CDT with updates on U.S. corn, soybean and spring wheat plantings.

Dry weather looks favorable for plantings this week, traders said.

CBOT May corn was last down 3-1/2 cents at $4.86-3/4 per bushel.

Soybeans – Mixed

CBOT soybeans traded nearly unchanged as the market took a breather after rising on Friday to their highest level since February 28.

Traders are monitoring Trump’s trade war with Beijing as it has accelerated China’s shift toward Brazilian soy supplies.

China’s soybean imports tumbled in March to their lowest for the month since 2008.

Analysts expect a National Oilseed Processors Association report on Tuesday will show the U.S. soybean crush increased in March to the highest-ever level for that month.

CBOT May soybeans were last down 1/4-cent at$10.42-1/2 per bushel.