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 Thursday.
Wheat - Up 3 cents to down 3 cents per bushel
CBOT wheat futures mixed as support from short-covering and strong export sales is offset by pressure from a firmer U.S. dollar.
The U.S. Department of Agriculture (USDA) said net U.S. wheat export sales for shipment in the upcoming 2025/26 marketing year totaled 882,200 metric tons in the week ended May 15, above trade estimates. The agency also reported net old-crop sales cancellations of 13,300 tons.
CBOT July soft red winter wheat was last down ¾ cent at $5.48-1/2 per bushel. K.C. July hard red winter wheat was last up 1 cent at $5.41-1/2 a bushel. Minneapolis July spring wheat was last up 2 cents at $6.06-1/4 a bushel.
Wheat up 1-6 cents, corn and soybeans up 1-4 cents
Corn - Steady to down 2 cents per bushel
Corn futures steady to lower on technical selling and profit taking after recent gains. The firmer U.S. dollar and weaker crude oil add pressure.
Actively traded CBOT July corn hit overhead technical resistance at its 200-day moving average during overnight trading.
The USDA said exporters sold a net 1,190,800 metric tons of old-crop U.S. corn last week and 218,400 tons of new-crop corn, both down from a week earlier but in line with trade expectations.
The International Grains Council raised its forecast for 2025/26 global corn production by 3 million metric tons to 1.277 billion tons.
CBOT July corn was last unchanged at $4.61 per bushel.
Soybeans - Down 2 to 5 cents per bushel
Soybeans lower, led by steep declines in soyoil futures as an amendment to the House tax bill was seen as negative to biodiesel tax credits, analysts said.
The USDA said U.S. exporters sold a net 307,900 metric tons of old-crop U.S. soybeans last week, near the high end of a range of trade estimates. New-crop sales of 15,000 tons were below expectations.
CBOT July soybeans were last down 1-3/4 cents at $10.61 per bushel.
Comments
Comments are closed for this article.