CHICAGO: 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. CST (1430 GMT) on Tuesday.
Wheat - Down 5 to 9 cents per bushel
Wheat futures fell to a one-month low as retaliatory Chinese tariffs on U.S. farm goods heightened concerns that President Donald Trump’s trade policy will disrupt U.S. agricultural exports.
U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%.
U.S. exporters sold 130,000 metric tons of white wheat to South Korea for 2024/25 delivery on Tuesday, the U.S. Department of Agriculture reported.
CBOT May soft red winter wheat was last down 9-1/4 cents to $5.38-1/2 per bushel. K.C. May hard red winter wheat was last down 9 cents to $5.53 a bushel and Minneapolis May spring wheat was 5-3/4 cents to $5.85-1/2 a bushel.
Wheat up 1-2 cents, corn down 1-3, soy down 2-3
Corn - Down 4 to 7 cents per bushel
Corn futures slid to a two-month low as markets braced for fallout from U.S. tariffs against Canada and Mexico. Mexico is one of the largest buyers of U.S. corn.
The U.S. Department of Agriculture reported export inspections of U.S. corn in the latest week at 1,351,373 metric tons, toward the high end of a range of trade expectations for 950,000 to 1,400,000 tons.
CBOT May corn was last down 7-3/4 cents to $4.48-1/2 per bushel.
Soybeans - Down 12 to 13 cents per bushel
Soybean futures also fell as worries over prolonged trade disputes and a bumper South American harvest weighed on prices.
China, the world’s largest soybean buyer, retaliated against fresh U.S. tariffs on Tuesday, announcing 10%-15% hikes to import levies covering a range of American agricultural and food products.
U.S. exporters sold 20,000 metric tons of soybean oil to unknown destinations for 2024/25 delivery on Tuesday, the USDA reported.
May soybeans were last down 13-1/4 cents to $9.9801/4 per bushel.
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