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 Tuesday.
Wheat - Up 6 to 7 cents per bushel
CBOT wheat futures ticked higher on weather risks in the U.S. Plains and a weaker dollar, which makes U.S. commodities cheaper on the global market.
On Monday, the U.S. Department of Agriculture (USDA) rated 48% of the U.S. winter wheat crop to be in good-to-excellent condition, above average analyst expectations but down from 56% a year ago.
Wheat ratings in the first weekly crop progress report of the 2025 growing season have deteriorated since the USDA released its last national report before the winter. This reflects the reemergence of dry conditions in the Plains breadbasket.
CBOT May soft red winter wheat was last up 6-3/4 cents to $5.43-1/4 per bushel. K.C. May hard red winter wheat was last up 5-1/4 cents to $5.64-1/2 a bushel and Minneapolis May spring wheat was last up 3-3/4 cents to $5.97-3/4 a bushel.
Chicago soybeans recover as tariff frenzy subsides
Corn - Up 2 to 3 cents per bushel
Corn futures steadied on a technical correction and market relief that Mexico, the main export outlet for U.S. corn, has been spared from blanket tariffs.
Heavy rains in part of the U.S. Midwest, which may slow early U.S. planting, and dryness in Brazil have also underpinned corn futures.
U.S. exporters sold 240,000 metric tons of corn to Spain for 2024/25 delivery, the USDA reported.
CBOT May corn was last up 2-1/4 cents to $4.66-3/4 per bushel.
Soybeans - Up 9 to 10 cents per bushel
Soybean futures rose on Tuesday to move away from a four-month low, tracking a wider recovery in financial markets as investors assessed the chances for negotiations to avert U.S.-led tariffs.
Despite further threats by Washington and Beijing of more retaliatory tariffs, markets took comfort this week in the readiness of some U.S. trading partners, including Japan and the European Union, to negotiate.
On Monday, U.S. President Donald Trump threatened an additional 50% tariff on Chinese imports starting Wednesday unless Beijing withdraws its 34% retaliatory tariff on the United States following Trump’s “reciprocal” duties.
CBOT May soybeans were last up 10-3/4 cents to $9.93-3/4 per bushel.
Comments