Wheat up 4-5 cents, corn down 1-up 2, soy up 1-2
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 Tuesday:
Wheat - Up 4 to 5 cents per bushel
CBOT wheat edged higher as traders weighed harvest progress and crop conditions for the U.S. wheat crop.
The U.S. winter wheat harvest is expanding after a slow start, the U.S. Department of Agriculture reported in its weekly crop progress report. The USDA said the winter wheat crop was 10% harvested, up from 4% a week ago but behind the five-year average of 16%. Analysts on average had estimated harvest progress at 11%.
CBOT July soft red winter wheat was last up 5 cents at $5.41-1/2 per bushel. K.C. July hard red winter wheat was last up 4-3/4 cents at $5.40-3/4 per bushel, and Minneapolis July spring wheat lost 1-1/4 cents to $6.21-1/2 per bushel.
Corn - Down 1 cent to up 2 cents per bushel
CBOT corn chopped up and down as favorable weather pressured futures, though robust global demand added support to prices.
U.S. corn inspections in the latest week reached about 1.67 million metric tons, at the high end of trade expectations.
Weekly condition ratings for the U.S. corn crop improved in the last week and were tied for the highest for this time of the season in several years, the USDA reported.
Wheat up 2-5 cents, corn down 1-3 cents, soy up 2-5 cents
CBOT July corn fell 1/2 cent to $4.34-1/4 per bushel.
Soybeans - Up 1 to 2 cents per bushel
CBOT soybeans traded on both sides of unchanged, torn between favorable U.S. crop weather and still strong soyoil prices despite a small fall after a sharp two-day rally, fueled by surging crude oil and stronger U.S. biofuel blending mandates.
U.S. exporters sold 120,000 metric tons of soybean meal to unknown destinations for 2025/26 delivery the USDA reported.
The USDA rated 66% of the crop as good to excellent, down from 68% last week. Soybean planting was 93% complete, up from 90% previously but lagging the average analyst estimate of 95% and the five-year average of 94%.
July soybeans were last up 2 cents at $10.71-3/4 per bushel.
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