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CBOT Trends-Corn up 2-5 cents, soybeans and wheat up 1-4 cents

ReutersApr 1, 2025 1:19 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 Tuesday.

WHEAT - Up 1 to 4 cents per bushel

Wheat futures firm on follow-though buying after the U.S. Department of Agriculture on Monday reported lower-than-expected U.S. wheat plantings. Gains held in check by improved crop weather in the U.S. Plains and by tariff concerns.

The USDA on Monday projected a decline in all U.S. wheat plantings to 45.350 million acres, led by a 6% drop in spring wheat seedings.

CBOT May soft red winter wheat WK25 was last 1-1/2 cents higher at $5.38-1/4 per bushel. K.C. May hard red winter wheat KWK25 was last up 3/4 cent at $5.57-3/4 a bushel while Minneapolis May spring wheat MWEK25 was last up 2-1/2 cents at $5.94-1/2 per bushel.

CORN - Up 2 to 5 cents per bushel

Corn firms from overnight lows on technical support and fresh buying at the start of the new month and quarter. Gains capped by an expected large increase in U.S. corn plantings this spring and demand concerns due to U.S. tariff actions.

Actively traded May corn CK25 broke through chart resistance at its 200-day moving average on Monday and held the key technical support level during overnight trading.

The USDA on Monday said it expected U.S. farmers to plant 95.326 million acres of corn this spring, above the average trade estimate and the most in 12 years.

Traders awaiting information on broad tariffs promised by U.S. President Donald Trump from April 2, as well as proposed U.S. port fees on Chinese-built vessels.

CBOT May corn CK25 was last up 3-3/4 cents at $4.61 per bushel.

SOYBEANS - Up 1 to 4 cents per bushel

Soybean futures higher in a rebound from a prior-session drop and overnight losses, underpinned by expectations for a drop in U.S. plantings this spring. Gains capped by demand worries due to U.S. tariff actions.

The USDA on Monday projected a drop in U.S. soybean plantings in 2025 to 83.495 million acres, the lowest in five years.

Analysts surveyed by Reuters, on average, expect the USDA to report the February U.S. soybean crush at 188.7 million bushels in a report due for release after the close.

Traders awaiting news on tariffs promised by U.S. President Donald Trump from April 2 and proposed U.S. port fees on Chinese-built vessels.

CBOT May soybeans SK25 were last up 3-1/2 cents at $10.18-1/4 per bushel.

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