Wheat up 1-2 cents, corn and soybeans mixed

CHICAGO: The 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 Friday.

Wheat – Up 1 to 2 cents per bushel

CBOT wheat firm on short covering and positioning ahead of the weekend following a drop to 2-1/2 week lows this week. Sluggish export demand and improving U.S. crop prospects after recent rains capping the market.

Rain across much of the southern Plains and southern Midwest was seen boosting harvest prospects for winter crops, forecasters said.

CBOT July soft red winter wheat was last up 1-1/2 cents at $5.46 per bushel. K.C. July hard red winter wheat was last up 2 cents at $5.52-3/4 a bushel, and Minneapolis July spring wheat was last up 5 cents at
$6.12-3/4 a bushel.

Corn – Up 1 cent to down 1 cent per bushel

Corn futures narrowly mixed as traders assess U.S. Midwest planting weather. Corn underpinned by solid export sales and by spillover support from soybeans.

Wheat flat-down 2 cents, corn steady-up 2, soy up 1-5

Rain and wet soil conditions are likely to slow spring planting in the southern Midwest and Delta next week, forecasters said. Favorable planting conditions are expected across most of the Corn Belt in the 11 to 15 day window.

CBOT July corn was last 3/4 cents higher at $4.84-3/4 per bushel.

Soybeans – Up 3 cents to down 2 cents per bushel

Soybeans narrowly mixed after hitting fresh two-month highs. Optimism about de-escalation of U.S.-China trade tensions supporting the market.

China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses that have been notified. But U.S. soy has not been mentioned so far in Chinese tariff exemptions.

Wet conditions were seen slowing spring planting next week in the southern Midwest and Delta next week, but more favorable planting weather is expected across most of the Midwest in the 11 to 15 day window, forecasters said.

CBOT July soybeans were last down 1/4 cent at $10.61-3/4 per bushel.