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Soybeans down 18-23 cents, wheat down 11-12, corn down 5-9

  • Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.
  • The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots.
Published February 26, 2021
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CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Friday.

WHEAT - Down 11 to 12 cents per bushel

Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.

Firmer dollar adds to bearish sentiment, making US grains less competitive globally.

The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots. The MGEX reported 652 March spring wheat deliveries.

CBOT May soft red winter wheat last traded down 11-1/4 cents at $6.64-1/2 per bushel. K.C. May hard red winter wheat was last down 12-1/4 cents at $6.40-1/4 a bushel and MGEX May spring wheat was last down 8-1/2 cents at $6.42.

CORN - Down 5 to 9 cents per bushel

Corn futures head lower for a second straight session on end-month profit-taking and follow-through weakness after Thursday's 1.3% slide, tied to poor weekly US export sales. Firmer dollar adds pressure, making US grains less attractive to those holding other currencies.

The CBOT reported no deliveries against CBOT March corn futures on first notice day, as expected by traders.

CBOT May corn was last down 7-1/2 cents at $5.42-1/4 per bushel, with new-crop December last down 6-3/4 cents at $4.67-1/4.

SOYBEANS - Down 18 to 23 cents per bushel

Soybeans lower on profit-taking at the end of the month and follow-through weakness from Thursday's disappointing weekly export sales data. Market underpinned by worries about South American weather.

China's soymeal futures slid nearly 5% in their sharpest decline in eight years on Friday, as investors took profit and new African swine fever outbreaks stirred concerns over demand.

CBOT May soybeans were last down 21 cents at $13.86-1/2 per bushel and new-crop November was last down 17-3/4 cents at $12.13.

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