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Markets

Wheat up 4-6 cents, corn up 9-12 cents, soy up 15-20 cents

  • The US Agriculture Department (USDA) on Friday morning said that weekly export sales of wheat totaled 365,100 tonnes, in line with trade estimates that ranged from 175,000 to 600,000 tonnes.
Published June 4, 2021

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. CDT (1330 GMT) on Friday.

WHEAT - Up 4 to 6 cents per bushel

End-of-week short-covering expected in winter wheat contracts after two straight days of declines. MGEX spring wheat supported by dry conditions in US Plains.

The US Agriculture Department (USDA) on Friday morning said that weekly export sales of wheat totaled 365,100 tonnes, in line with trade estimates that ranged from 175,000 to 600,000 tonnes.

CBOT July soft red winter wheat was last up 5-3/4 cents at $6.82 per bushel; K.C. July hard red winter wheat was last up 4-1/4 cents at $6.28-1/2 a bushel and MGEX July spring wheat was last up 6-3/4 cents at $7.84-1/4 a bushel.

CORN - Up 9 to 12 cents per bushel

Corn firming on forecasts for hot and dry weather that could stress the developing crop in the US Midwest this weekend.

Weekly corn export sales totaled 970,500 tonnes, in line with forecasts for 100,000 to 1.3 million tonnes.

CBOT July corn was last up 9 cents at $6.71 per bushel.

SOYBEANS - Up 15 to 20 cents per bushel

Bargain buying expected in soybeans.

Concerns about crop damage in North Dakota underpins the market.

Soybean export sales totaled 198,000 tonnes, USDA said. Analysts' forecasts ranged from -100,000 to 600,000 tonnes.

Benchmark CBOT July soybeans rose above its 20-day and 30-day moving averages overnight.

CBOT July soybeans were last up 17-1/4 cents at $15.66-1/2 per bushel.

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