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CBOT Trends-Wheat steady-up 2 cents, corn and soybeans steady-down 2

ReutersMar 21, 2025 1:16 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. CDT (1330 GMT) on Friday.

WHEAT - Steady to up 2 cents a bushel

Wheat futures firm on technical buying and short covering following three sessions of declines. Gains capped by tepid U.S. export demand and a firmer U.S. dollar.

Actively traded CBOT May wheat WK25 hit overhead chart resistance at its 20-day moving averages in overnight trading.

CBOT May soft red winter wheat WK25 was last up 1 cent at $5.58-1/4 per bushel. K.C. May hard red winter wheat KWK25 was last up 2-3/4 cents at $5.89-1/4 per bushel, and Minneapolis May spring wheat MWEK25 was up 1/2 cent at $6.05-1/4 per bushel.

CORN - Steady to down 2 cents a bushel

Corn futures ease after two sessions of gains that took prices to a one-week high. Forecasts for rising global supplies and a sharp increase in U.S. plantings weighing on the market.

Actively traded May futures CK25 failed to extend Thursday's gains in overnight trading and hit overhead technical chart resistance at its 20-day moving average.

Traders positioning ahead of the U.S. Department of Agriculture (USDA) grain stocks and prospective plantings reports on March 31.

CBOT May corn CK25 was last down 3/4 cent at $4.68-1/4 per bushel.

SOYBEANS - Steady to down 2 cents a bushel

Soybeans down slightly in a narrow trading range. Prices anchored by tariff concerns and slowing U.S. export demand as a bumper South American harvest floods the global market.

Traders positioning ahead of USDA's March 31 grain stocks and prospective plantings reports. The agency is expected to report a sharp drop in U.S. soy plantings this spring.

The Buenos Aires grains exchange trimmed its Argentine soy harvest forecast by 1 million metric tons due to drought in the northeast.

CBOT May soybeans SK25 were last down 1-3/4 cents at $10.11-1/4 per bushel.

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