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. CDT (1330 GMT) on Monday.
Wheat - Up 8 to 10 cents per bushel
Wheat futures rose with a weaker trend in the U.S. dollar offering support in the face of market uncertainty caused by U.S. trade tariffs.
Russian wheat export prices continued to decline for the second week in a row, but they have yet to regain competitiveness against European grains, analysts said.
Excessive dryness is posing some risk to portions of the winter wheat crop in the U.S. Plains, an analyst note said.
CBOT May soft red winter wheat was last up 10-1/4 cents to $5.61-1/2 per bushel. K.C. May hard red winter wheat was last up 9 cents to $5.73-3/4 a bushel, and Minneapolis May spring wheat was up 5-1/2 cents to $5.98-1/4 a bushel.
Corn - Up 1 to 3 cents per bushel
Corn futures ticked up as the suspension of U.S. tariffs on top importer Mexico eased worries over trade disruptions, though ongoing concerns about fraying relationships between the U.S. and top trading partners continued to weigh on prices.
Trump has suspended the tariffs he imposed on most goods from Canada and Mexico. Mexico was the largest buyer of U.S. corn in 2024.
Market players are waiting for the USDA’s supply and demand report on Tuesday. The report will consider trade policies in place when the forecasts for grains and soybeans are issued, an agency official said on Thursday.
Wheat down 6-8 cents, corn down 1-3, soy down 2-3
Exporters sold 126,000 metric tons of corn to Japan for 2024/25 delivery, the U.S. Department of Agriculture reported on Monday.
CBOT May corn was last up 3-1/2 cents to $4.72-3/4 per bushel.
Soybeans - Steady to down 1 cent per bushel
Soybean futures fell on Monday, weakened by trade tensions between the United States and its key trading partners, including China.
Trade disputes over U.S. tariffs are taking center stage in agricultural markets as the U.S. remains locked in a trade war with top global soybean buyer China.
CBOT May soybeans were last down 1-1/2 cents to $10.23-1/2 per bushel.
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