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CBOT Trends-Wheat up 3-6 cents, corn up 1-2, soy up 3-6

ReutersFeb 28, 2025 2:09 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 Friday.

WHEAT - Up 3 to 6 cents per bushel

Wheat futures Wv1 ticked up on expectations that supplies will tighten, though concerns that tariffs will impact agricultural trade continued to weigh on the market.

However, easing cold snaps in the United States and Russia have alleviated fears about near-term threats to production.

The condition of France's main wheat crop declined slightly last week to remain near the rain-hit score a year ago.

CBOT May soft red winter wheat WK25 was last up 6-3/4 cents to $5.69-1/4 per bushel. K.C. May hard red winter wheat KWK25 was last up 5-1/4 cents to $5.90-1/2 a bushel and Minneapolis May spring wheat MWEK25 was up 4-3/4 cents to $6.09-1/2 a bushel.

CORN - Up 1 to 2 cents per bushel

Corn futures Cv1 steadied on Friday on technical trading, though improving crop weather in South America and expectations that U.S. farmers will plant more corn weighed on prices.

The USDA projected U.S. farmers would plant 94.0 million acres of corn in 2025, up from 90.6 million last year and above the average trade estimate of 93.6 million.

Confusion has continued to swirl in markets over proposed 25% U.S. tariffs on imports from Mexico and Canada, set to begin on March 4.

CBOT May corn CK25 was last up 1-3/4 cents to $4.82-3/4 per bushel.

SOYBEANS - Up 3 to 6 cents per bushel

Soybean futures Sv1 edged up on support from USDA data indicating fewer acres would be planted in 2025, which would reduce the supply of the oilseed.

Beneficial rains over South American soy-growing areas have pressured prices.

U.S. exporters sold 20,000 metric tons of soybean oil to unknown destinations for 2024/25 delivery, the USDA said in a daily reporting system.

CBOT May soybeans SK25 were last up 5 cents to $10.42-1/4 per bushel.

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