Soybeans down 15-18 cents; corn, wheat down 7-11 cents
- The CBOT's most-active soft red winter wheat contract fell in overnight trading, following corn and soybeans lower despite a tighter global wheat stocks picture reported.
- Ukraine's grain exports are down 20% from the same period last year, at 29.8 million tonnes.
CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.
WHEAT - Down 7 to 11 cents per bushel
The CBOT's most-active soft red winter wheat contract fell in overnight trading, following corn and soybeans lower despite a tighter global wheat stocks picture reported by the US Department of Agriculture in Tuesday's monthly supply and demand report.
Ukraine's grain exports are down 20% from the same period last year, at 29.8 million tonnes so far this season, including 13.16 million tonnes of wheat, according to data from the country's economy ministry.
Japan's Ministry of Agriculture has purchased 86,845 tonnes of food-quality wheat from the United States and Canada.
France is expected to ship 7.45 million tonnes of soft wheat outside the EU's 27 countries, up from 7.27 million tonnes estimated last month, according to FranceAgriMer.
At least four trading companies are believed to be taking part in the international tender from Jordan's state grains buyer to purchase 120,000 tonnes of wheat which closed on Wednesday, traders said.
CBOT March soft red winter wheat last traded down 9-3/4 cents at $6.39-3/4 per bushel. K.C. March hard red winter wheat was last 9-1/2 cents lower at $6.24 per bushel. MGEX March spring wheat fell 2-1/4 cents to $6.24-1/4 per bushel.
CORN - Down 7 to 11 cents per bushel
Corn market slid for a second day following larger-than-expected corn stocks noted in the USDA's monthly supply and demand report.
The USDA only minimally trimmed its US corn ending stocks to 1.502 billion bushels, versus analysts' expectations of 1.392 billion bushels.
Exporters reported a cancellation of sales of 132,000 tonnes of corn for delivery to unknown destinations during the 2020/2021 marketing year, the USDA said.
CBOT March corn was last 9-3/4 cents lower at $5.46-1/2 per bushel.
SOYBEANS - Down 15 to 18 cents per bushel
CBOT soybeans moved lower after ending the previous session higher on tighter ending stocks reported by the USDA.
The USDA cut its US soybean ending stocks to 120 million bushels, beating analysts' expectations of 123 million bushels.
CBOT March soybeans were last 17-1/2 cents lower at $13.84 per bushel.
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