CHICAGO: The 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 Thursday.
Wheat - Steady to down 2 cents per bushel
CBOT wheat mostly weaker on crop-boosting rains in U.S. winter wheat production areas. Spillover support from higher corn and soy markets limiting declines.
Actively traded CBOT July wheat fell to a 2-1/2 week low during overnight trading.
The U.S. Department of Agriculture (USDA) reported net old-crop U.S. wheat export sales cancellations totaling 145,000 metric tons for the week ended April 17, in line with trade estimates. New-crop sales topped expectations at 371,700 tons.
CBOT July soft red winter wheat was last unchanged at $5.43-1/2 per bushel. K.C. July hard red winter wheat was last down 3-1/2 cents at $5.46-3/4 a bushel, and Minneapolis July spring wheat was last down 1-1/2 cents at $6.05-1/2 a bushel.
Corn and wheat down 2-4 cents, soybeans mixed
Corn - Steady to up 2 cents per bushel
Corn futures firmer in a short-covering and technical buying rebound after recent declines. Solid export sales also supportive.
Actively traded July corn held technical chart support at its 100-day moving average during overnight trading and briefly climbed above its 50-day moving average.
Net U.S. corn export sales totaled 1,152,900 metric tons last week, led by 629,200 tons in purchases by Japan, according to USDA data. The sales were in line with trade estimates.
CBOT July corn was last 1-1/4 cents lower at $4.80-1/2 per bushel.
Soybeans - Up 1 to 5 cents per bushel
Soybeans higher on technical buying and firm cash markets. Concerns about U.S.-China trade tensions anchoring the market.
July soybeans held technical chart support at its 200-day moving averages during overnight trading and matched the prior session’s two-month high.
U.S. President Donald Trump and Treasury Secretary Scott Bessent this week suggested current tariffs could be lowered as part of negotiations with China, though Beijing on Thursday denied that trade talks were taking place.
U.S. soybean export sales last week fell to 277,000 metric tons for shipments in the 2024/25 marketing year, USDA data showed. The sales were in line with trade estimates.
CBOT July soybeans were last up 3-1/4 cents at $10.53-1/2 per bushel.
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