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Corn down 5-10 cents, wheat down 7-9, soybeans down 3-5

  • The US Department of Agriculture reported export sales of US old-crop wheat at 167,800 tonnes, a marketing year low that fell below a range of trade expectations, while new-crop sales totaled 14,800 tonnes.
  • Corn futures slid to session lows after the USDA's weekly export sales data fell below trade expectations.
Reuters 25 Feb, 2021

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Thursday.

NOTE: First notice day for deliveries against CBOT March futures contracts is Friday.

WHEAT - Down 7 to 9 cents per bushel

Wheat futures fell to session lows on disappointing weekly US export sales. Traders also booking profits a day after the CBOT May contract hit a one-month high.

The US Department of Agriculture reported export sales of US old-crop wheat at 167,800 tonnes, a marketing year low that fell below a range of trade expectations, while new-crop sales totaled 14,800 tonnes.

CBOT May soft red winter wheat last traded down 9 cents at $6.76-1/2 per bushel. K.C. May hard red winter wheat was last down 9-1/4 cents at $6.53-3/4 a bushel and MGEX May spring wheat was last down 6-1/4 cents at $6.51-1/4.

CORN - Down 5 to 10 cents per bushel

Corn futures slid to session lows after the USDA's weekly export sales data fell below trade expectations.

The USDA reported export sales of US old-crop corn at 453,200 tonnes, a marketing year low that fell below a range of trade expectations; new-crop corn sales totaled 145,900 tonnes.

CBOT May corn was last down 10 cents at $5.47 per bushel, with new-crop December last down 3-3/4 cents at $4.73.

SOYBEANS - Down 3 to 5 cents per bushel

Soybeans turned lower, retreating from early advances, on disappointing weekly US export sales data. Life-of-contract highs were set across the board in early moves. Market underpinned by worries about South American weather, including rains slowing the harvest in Brazil.

Strength in soyoil futures lends support amid strong global vegetable oils markets. Contract highs were set in most CBOT soyoil futures contracts.

The USDA reported export sales of US old-crop soybeans at 167,900 tonnes, below a range of trade expectations, and new-crop sales totaled 70,800 tonnes.

CBOT May soybeans were last down 5-1/2 cents at $14.20-1/4 per bushel, while new-crop November was last up 1-3/4 cents at $12.40.

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