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CBOT Trends-Wheat down 6-7 cents, corn down 3-4, soy down 1-2

ReutersFeb 25, 2025 2:11 PM

- 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. CST (1430 GMT) on Tuesday.

NOTE: Friday is the first notice day for deliveries against CBOT March futures contracts.

WHEAT - Down 6 to 7 cents per bushel

CBOT wheat Wv1 futures tipped lower on spillover weakness from corn futures, with pressure also coming from easing concerns about cold weather damage to U.S. and Russian crops.

Wheat export prices in Russia, the world's biggest wheat shipper, continued their upward trend last week due to a stronger rouble and lower shipments, though traders said export competition from other countries remained stiff.

Russia's state weather forecaster, meanwhile, said late winter frosts in the country's southern breadbasket regions were unlikely to inflict significant damage on winter crops.

CBOT May soft red winter wheat WK25 was last down 6-1/2 cents to $5.87 per bushel. K.C. May hard red winter wheat KWK25 was last down 4-1/2 cents to $6.05 a bushel and Minneapolis May spring wheat MWEK25 was down 2-3/4 cents to $6.33 a bushel.

CORN - Down 3 to 4 cents per bushel

Corn futures Cv1 edged lower on Tuesday as rainfall in South America and expectations of increased planting by U.S. farmers encouraged profit-taking.

Renewed investor concerns about U.S. tariffs, after President Donald Trump said proposed levies on imports from Mexico and Canada were on track to be implemented, weighed on grain markets and added to fears of reprisals against U.S. agricultural exports.

Beneficial rains are falling across parched corn-growing areas of Argentina, analysts' notes said.

CBOT May corn CK25 was last down 4-1/2 cents to $4.92-1/2 per bushel.

SOYBEANS - Down 1 to 2 cents per bushel

Soybean futures Sv1 were nearly unchanged, though a bumper Brazilian soy harvest continued to weigh on prices.

Traders were also turning their attention to a U.S. Department of Agriculture conference later this week at which the USDA will give early supply and demand projections for next season.

CBOT May soybeans SK25 were last down 1-1/4 cents at $10.56 per bushel.

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