CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Tuesday.
WHEAT - Up 3 to 5 cents per bushel
CBOT wheat lifted overnight, supported by multiple international grain tenders signalling strong demand.
The US winter wheat crop was rated 53% good to excellent by the US Department of Agriculture on Monday, steady with the previous week and in line with trade expectations. The crop was 5% headed, up one point from the week prior, though behind the five-year average.
US spring wheat was noted as 11% planted, compared to 3% a week ago, the USDA said.
The US shipped 458,432 tonnes of wheat for export the week ended April 8, the USDA said Monday, down 27.9% from the week prior.
South Korea's Major Feedmill Group (MFG) purchased some 66,000 tonnes of animal feed wheat which can be sourced from optional origins in a tender on Tuesday, European traders said.
France's soft wheat planting, including spring wheat, is forecast at 4.9 million hectares (mln ha), an increase of 15% on 2020 and in line with the five-year average, its farm ministry said.
Ukraine's grain exports have fallen by 23.7% to 36.5 million tonnes so far this season, which runs from July 2020 to June 2021, including 14.5 million tonnes of wheat, economy ministry data showed.
CBOT May soft red winter wheat was last up 4-1/2 cents at $6.32-1/2 per bushel. K.C. May hard red winter wheat was last up 1/2 cent at $5.79-1/2 cents per bushel. MGEX May spring wheat was last up 2-1/4 cents at $6.45 cents per bushel.
CORN - Up 2 to 4 cents per bushel
Corn market rebounded on Tuesday after two sessions of lower movement, as cold temperatures across the US Midwest threaten early planted crops.
The US corn crop was 4% planted as of Sunday, April 11, USDA said, below analyst predictions, but ahead of the five-year average of 3%.
The US shipped 1.58 million tonnes of corn for export the week ended April 8, up 34.7% from a year ago, though down 26.6% from the week prior, the USDA said.
Ukraine's grain exports have fallen by 23.7% to 36.5 million tonnes so far this season, which runs from July 2020 to June 2021, including 17.3 million tonnes of corn, economy ministry data showed.
South Korea's Feed Leaders Committee (FLC) purchased about 65,000 tonnes of optional-origin corn in a private deal on Tuesday without an international tender being issued, European traders said.
CBOT May corn last traded up 3 cents at $5.72 per bushel.
SOYBEANS - Up 4 to 7 cents per bushel
Soybeans regained after two sessions lower, though gains were limited by South American crop production estimates.
The US shipped 327,799 tonnes of soybeans for export the week ended April 8, down 14.8% from the week prior and 31.1% lower than a year ago, the USDA said.
China's imports of soybeans soared in the first quarter, boosted by strong demand from the livestock sector, according to customs data. The world's top soybean buyer, brought in 7.77 million tonnes of the oilseed in March, up 82% from a year ago, mostly from Brazil.
CBOT May soybeans were last up 5-1/2 cents at $13.87-1/2 per bushel.