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 - Down 3 to 4 cents per bushel
Wheat futures fell as expectations of bumper supplies continued to weigh on sentiment
Australia is on track to produce between 32 million and 35 million metric tons of wheat in its upcoming harvest, according to analysts, who raised their forecasts after an improvement in crop conditions and said they could further upgrade them.
Argus Media expects French soft wheat exports outside the European Union to rebound to 8 million tons in 2025/26 but still leave France with its biggest stockpile in about 20 years, helped by a 30% rebound in its harvest.
The U.S. Department of Agriculture reported weekly export sales of wheat at 579,800 metric tons.
CBOT December soft red winter wheat was last down 3 cents to $5.21-1/4 per bushel. K.C. December hard red winter wheat was last down 3-3/4 cents to $5.09-1/4 per bushel, and Minneapolis December wheat was last down 3/4 cents to $5.76 a bushel.
Wheat down 5-6 cents, corn down 1-2, soy steady-down 1
Corn - Steady to down 1 cent per bushel
CBOT December corn ticked down on expectations of a record crop.
U.S. farmers are on track to harvest the nation’s biggest corn crop in history this autumn.
The USDA reported weekly export sales of corn at 2,071,900 metric tons.
CBOT December corn was last down 3/4 cent to $4.05-1/4 per bushel.
Soybeans - Up 1 to down 1 cent per bushel
Soybean futures were mixed, pressured by expectations of a bumper crop in the U.S. but supported by optimism about the progress of trade talks with China.
Senior Chinese trade negotiator Li Chenggang is expected to travel to Washington this week to meet U.S. officials, a United States government spokesperson said, with the two superpowers looking to chart a path beyond their tariff truce.
The USDA reported weekly export sales of soybeans at 1,183,400 metric tons.
CBOT November soybeans last traded flat at $10.47-1/2 per bushel.
Comments
Comments are closed for this article.