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 Tuesday.
Wheat – Up 1 to 3 cents a bushel
Wheat futures higher on declining U.S. Plains crop conditions and concerns about hot and dry weather curbing yield prospects.
The U.S. Department of Agriculture said 48% of the wheat crop in top producer Kansas was in good-to-excellent condition, down 4 points from a week earlier. Crop ratings in Oklahoma and Texas held steady, the agency said in a weekly report.
High winds are expected in the southwestern U.S. Plains on Tuesday, causing further soil erosion, according to Commodity Weather Group.
CBOT May soft red winter wheat was last up 2-1/4 cents at $5.70-3/4 per bushel. K.C. May hard red winter wheat was last up 3-3/4 cents at $6.09-1/4 per bushel, and Minneapolis May spring wheat was up 3-1/2 cents at
$6.18-1/2 per bushel.
Wheat near 2-1/2-week high on US crop woes; soybeans firm
Corn – Up 1 cent to down 3 cents a bushel
Corn futures mixed to mostly weaker following modest gains on Monday. Rising trade tensions and an expected jump in U.S. plantings this spring weighing on prices.
Actively traded May futures touched a 1-1/2 week low in overnight trading but held technical chart support at its 200-day moving average.
CBOT May corn was last down 2-1/4 cents at $4.58-3/4 per bushel.
Soybeans – Steady to up 2 cents a bushel
Soybeans firmer in range-bound trading. Market underpinned by expectations for a decline in U.S. plantings this spring, but tariff worries and massive South American supplies anchoring prices.
CBOT May soybeans were last up 2 cents at $10.17-1/2 per bushel.
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