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 Friday.
Wheat - Down 8 to 9 cents per bushel
Wheat futures hit a seven-month low as traders focused on sluggish exports and rain relief in parts of the U.S. Plains.
Forecast rain for the U.S. and Russian wheat belts and a low volume of U.S. wheat export sales reported on Thursday have helped push wheat futures lower.
A U.S.-backed deal this week aimed at a ceasefire in the Black Sea has also weighed on wheat markets by raising the prospect of smoother exports from Russia and Ukraine.
CBOT May soft red winter wheat futures were last down 9 cents to $5.23 per bushel. K.C. May hard red winter wheat was last down 13-1/2 cents to $5.52-3/4 per bushel, and Minneapolis May spring wheat was last down 9 cents to $5.79-1/2 per bushel.
Wheat futures dip on favourable weather
Corn - Down 3 to 4 cents per bushel
Corn futures slipped on selling pressure and expectations of increased U.S. planting this year.
U.S. farmers will plant 94.361 million acres with corn this year, up from 90.594 million in 2024, according to an average of analysts polled by Reuters before the USDA publication.
Markets were subdued this week before broad tariffs promised by U.S. President Donald Trump from April 2, as well as proposed U.S. port fees on Chinese-built vessels.
The U.S. Department of Agriculture’s planting report will be issued together with quarterly estimates of U.S. grain stocks in one of the most closely watched data releases of the year for grain markets.
CBOT May corn was last down 4-3/4 cents to $4.45-1/4 bushel.
Soybeans - Down 2 to 3 cents per bushel
Soybeans futures fell under pressure from a bumper Brazilian soybean crop while the previous day’s rally in soyoil petered out.
Brazil’s farmers are expected to reap a record 172.1 million metric tons of soybeans in the 2024/2025 season, consultancy Agroconsult forecast on Thursday, putting attention back on a bumper crop in the top soybean exporter.
CBOT May soybeans were last down 3-1/2 cents to $10.13-1/4 per bushel.
Comments