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CBOT Trends-Wheat up 9-12 cents per bushel, corn and soy up 4-6 cents

ReutersMar 5, 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 Wednesday.

WHEAT - Up 9 to 12 cents

Wheat futures Wv1 rebound after the most-active contract fell on Tuesday to its lowest level since Jan. 13.

Some concerns eased temporarily about tit-for-tat tariffs hurting American agricultural exports as markets digested duties announced on Tuesday, traders said.

The Trump administration will make an announcement on Wednesday regarding U.S. tariffs imposed on Canada and Mexico, as the president weighs potential relief for some sectors such as automobiles, the U.S. Commerce Department chief said.

CBOT May soft red winter wheat WK25 was last up 8-1/2 cents to $5.45-1/4 per bushel. K.C. May hard red winter wheat KWK25 was last up 7-1/4 cents to $5.55-3/4 a bushel, and Minneapolis May spring wheat MWEK25 was up 5-3/4 cents to $5.85-3/4 a bushel.

CORN - Up 4 to 6 cents

Corn futures Cv1 recover after hitting a Dec. 20 low on Tuesday over concerns about tariff disputes with China, Canada and top importer Mexico.

Some traders said tariffs may not significantly alter short-term U.S. grain exports to China, given a lull in Chinese corn and wheat imports.

China raised its annual grain production target and expanded its agriculture stockpile budget.

CBOT May corn CK25 was last up 4-3/4 cents to $4.56-1/4 per bushel.

SOYBEANS - Up 4 to 6 cents

Soybean futures Sv1 bounced after falling on Tuesday to a Jan. 9 low.

China, the world's largest soybean buyer, retaliated against U.S. tariffs on Tuesday, announcing 10%-15% hikes to import levies covering a range of American agricultural and food products.

Shipments to China from top soybean supplier Brazil could increase, analysts said.

Still, the dollar hit three-month lows, making U.S. crops look more attractive to importers.

CBOT May soybeans SK25 were last up 5-1/4 cents at$10.04-1/4 per bushel.

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