Wheat steady-down 3 cents, corn down 2-3, soy steady-down 4
Note: The U.S. Department of Agriculture is expected to release its monthly World Agricultural Supply and Demand Report at 11:00 a.m. CST.
Wheat - Steady to down 3 cents per bushel
CBOT wheat ticked down as the U.S. dollar gained strength and traders positioned prior to the release of the USDA's monthly supply and demand report.
Ahead of the USDA's monthly supply-demand and crop production reports on Friday, analysts surveyed by Reuters on average expect the government to lower its estimate of U.S. 2025/26 wheat production. Only slight changes were seen for the USDA's forecasts of 2025/26 U.S. and global wheat ending stocks.
European Union production of soft wheat, the bloc's main cereal crop, is expected to reach 123.4 million metric tons this year, a 9.6% increase from last year's poor harvest, farming association Copa Cogeca said on Friday.
CBOT September soft red winter wheat was last down 3 cents to $5.51-1/2 per bushel. K.C. September hard red winter wheat was last down 5 cents to $5.29-3/4 per bushel. Minneapolis September wheat was last down 2-3/4 cents to $6.29 a bushel.
Wheat steady-up 6 cents, corn steady-down 2, soy down 1-7
Corn - Down 2 to 3 cents per bushel
CBOT corn eased on favorable crop conditions and a firming dollar ahead of the USDA's supply/demand report.
A favorable mild, showery pattern is expected to aid corn pollination in the U.S. Midwest, according to forecaster Commodity Weather Group.
Ahead of Friday's monthly USDA supply/demand reports, analysts surveyed by Reuters on average expected the government to lower its forecasts of U.S. corn inventories remaining at the end of the 2024/25 and 2025/26 marketing years.
CBOT December corn was last down 2-1/4 cents to $4.14-1/4 per bushel.
Soybeans - Steady to down 4 cents per bushel
CBOT soybean futures Chicago dipped on favorable weather in the U.S. Midwest growing region as investors awaited the results of the USDA's monthly supply/demand report.
Ahead of Friday's monthly USDA supply/demand reports, analysts surveyed by Reuters on average expected the government to raise its forecasts of U.S. soybean inventories remaining at the end of the 2024/25 and 2025/26 marketing years.
Brazilian government crop supply agency Conab estimated the country's 2024/25 soybean harvest at 169.5 million tons, compared with its month-ago estimate of 169.60 million
CBOT November soybeans were last down 3-1/4 cents to $10.10-1/2 per bushel.
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