GRAINS-Chicago grains regain ground with exports in focus

ReutersMar 13, 2025 11:56 AM

Corn, wheat steady after 2-day fall, soybeans after 4-day drop
US tariffs and EU, Canada riposte raise fears of export losses
Attention turns to weekly US exports

By Gus Trompiz and Naveen Thukral

PARIS/SINGAPORE, March 13 (Reuters) - Chicago corn, wheat and soybean futures edged higher on Thursday, recouping some of the previous session's losses as traders assessed tariff announcements and awaited U.S. export data for a gauge of overseas demand.

Grain markets were unsettled on Wednesday by the implementation of increased U.S. tariffs on all steel and aluminium imports, prompting the European Union and Canada to announce retaliatory duties on a range of U.S. goods.

The EU package, which could see the bloc reintroduce a 25% duty on U.S. corn and potentially add a tariff on U.S. soybeans, added to concern about disruption to U.S. exports caused by President Donald Trump's tariff offensive.

However, traders remained caution given twists and turns in tariff negotiations.

"Operators are now eagerly awaiting the USDA's weekly export sales figures, especially on corn, which is being closely monitored in the current context of the trade war," Argus analysts said in a note.

The U.S. Department of Agriculture is due to publish its weekly export sales report later on Thursday. The agency surprised traders earlier this week when it left unchanged its monthly forecast of U.S. corn inventories, despite strong export sales.

The most-active corn contract on the Chicago Board of Trade Cv1 was up 0.9% at $4.65 a bushel by 1146 GMT. CBOT Soybeans Sv1 added 0.9% to $10.09-3/4 a bushel and CBOT wheat Wv1 gained 0.9% to $5.58-3/4 a bushel.

Corn and wheat were steadying after a two-day drop, while soybeans were recovering from a four-day fall.

The wheat market has drawn support from international demand. Algeria bought at least 450,000 metric tons in a tender on Wednesday, according to traders, while Tunisia is holding a tender on Thursday seeking 100,000 tons.

On the supply side, Canadian farmers intend to plant more wheat, corn, oats and peas in 2025 than last year and cut canola, soybeans, barley and lentils area, Statistics Canada reported on Wednesday.

Prices at 1146 GMT
	Last	Change	Pct Move
CBOT wheat Wv1	558.75	4.75	0.86
CBOT corn Cv1	465.00	4.25	0.92
CBOT soy Sv1	1009.75	9.25	0.92
Paris wheat BL2H5	209.25	0.00	0.00
Paris maize EMAc1	214.00	2.00	0.94
Paris rapeseed COMc1	476.50	3.00	0.63
WTI crude oil CLc1	67.43	-0.25	-0.37
Euro/dlr EUR=	1.09	0.00	-0.20
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton

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