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Wheat down 9-11 cents, corn down 13-19 cents, soy down 18-25 cents

  • Russian export prices for the summer's new wheat crop fell last week under pressure from approaching good crop in the Black Sea area, analysts said.
  • China's corn imports in May jumped to 3.16 million tonnes, a 395% year-over-year jump, according to customs data.
Published June 21, 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) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Down 9 to 11 cents per bushel

Wheat fell overnight as rain across parts of the US Midwest pressured the grain complex, though losses in wheat were mitigated as much of the Northern Plains missed meaningful precipitation.

A weaker US dollar also offered support.

Russian export prices for the summer's new wheat crop fell last week under pressure from approaching good crop in the Black Sea area, analysts said.

CBOT July soft red winter wheat was last down 9 cents at $6.53-3/4 per bushel; K.C. July hard red winter wheat was last down 10 cents at $5.96-1/2 per bushel, and MGEX July spring wheat eased 9-1/2 cents to $7.53 per bushel.

CORN - Down 13 to 19 cents per bushel

Rain showers across parts of the US Midwest eased concerns about dry conditions stressing crops, though much of the northern corn belt remains dry and in need of moisture, limiting losses.

China's corn imports in May jumped to 3.16 million tonnes, a 395% year-over-year jump, according to customs data.

CBOT July corn was last down 13-1/2 cents at $6.41-3/4 per bushel, while new-crop December corn last fell 18-3/4 cents to $5.47-1/2.

SOYBEANS - Down 18 to 25 cents per bushel

Rains across parts of the central US Midwest offered relief for recently planted soybeans, though key growing regions missed beneficial rains.

Most-active CBOT soybean futures contract fell below its 200-day moving average overnight.

Exporters sold 336,000 tonnes of soybeans for delivery to China during the 2021/2022 marketing year, according to the U.S. Department of Agriculture, following a Reuters story on the largest sale to the country in 4-1/2 months.

Exporters also sold 120,000 tonnes of soybeans for delivery to unknown destinations during the 2021/2022 marketing year, according to the USDA.

China's May soybean imports from Brazil jumped 82% from the previous month, bolstered by the arrival of cargoes due to land earlier but delayed by rains, customs data showed.

CBOT July soybeans last traded down 18 cents at $13.78 per bushel, while new-crop November soybeans fell 25 cents to $12.88.

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