ReutersReuters

Wheat down 9-11 cents a bushel, corn down 2-4 cents, soy down 12-14 cents

Refinitiv1 دقيقة للقراءة

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 - Down 9 to 11 cents per bushel

  • Expectations for ample supplies from the Black Sea region and for an above-average Australian crop weighed on CBOT wheat futures.

  • Grain consultancy Sovecon said it raised its forecast for Russia's 2025-26 wheat exports.

  • Ukraine increased wheat exports to 1.89 million metric tons in August and may export at least 1.7 million tons in September, the country's largest farm producers union UAC said.

  • The U.S. Department of Agriculture is slated to issue an update on the U.S. spring wheat harvest in a weekly crop-progress report at 3 p.m. CDT (2000 GMT).

  • CBOT December soft red winter wheat (WZ25) was down 9-1/4 cents at $5.25 per bushel by 7:30 a.m. CDT (1230 GMT).

  • K.C. December hard red winter wheat (KWZ25) was down 9-1/4 cents at $5.10-1/2 per bushel. Minneapolis December wheat (MWEZ25) was down 9 cents at $5.71 a bushel after setting a contract low.

CORN - Down 2 to 4 cents per bushel

  • Corn futures weakened under pressure from projections for a record-large U.S. harvest.

  • Traders were monitoring risks for plant diseases to limit crop yields and for a potential frost in parts of the upper Midwest this week.

  • The USDA is due to update condition ratings for U.S. corn and soybean crops in its weekly progress report.

  • CBOT December corn (CU25) was 2-3/4 cents lower at $4.17-1/2 per bushel by 7:30 a.m. CDT (1230 GMT), after jumping to a one-month high on Friday.

SOYBEANS - Down 12 to 14 cents per bushel

  • A lack of Chinese demand for U.S. soybeans loomed over CBOT futures, as China has been buying from Brazil during Washington's trade dispute with Beijing.

  • The Korea Feed Association in South Korea purchased about 60,000 metric tons of soymeal expected to be sourced from South America in a private deal, European traders said.

  • In Ukraine, President Volodymyr Zelenskiy signed a law introducing a 10% export duty on soybeans and rapeseed, according to the Ukraine parliament's website.

  • CBOT November soybeans (SX25) were 13 cents lower at $10.41-1/2 per bushel by 7:25 a.m. CDT (1225 GMT).

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