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CBOT Trends-Wheat up 6-7 cents, corn down 1-2, soy up 1-2

ReutersApr 7, 2025 1:08 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 Monday.

WHEAT - Up 6 to 7 cents per bushel

CBOT wheat futures bounced as traders and commodity funds covered their sizable short positions as uncertainty over trade policy and retaliation against U.S. agricultural exports hung over the market.

Ukraine remains on track to reap its biggest wheat harvest in four years.

The impact of China's announcement of additional tariffs on all U.S. goods was blunted, as the country buys relatively little U.S. wheat.

Dryness in the U.S. wheat belt has continued to raise concerns about the health of the region's nascent wheat crop.

CBOT May soft red winter wheat WK25 was last up 7-3/4 cents to $5.36-3/4 per bushel. K.C. May hard red winter wheat KWK25 was last up 5-1/2 cents to $5.63 a bushel and Minneapolis May spring wheat MWEK25 was last up 4 cents to $5.88-1/2 a bushel.

CORN - Down 1 to 2 cents per bushel

Corn futures ticked down on continued pressure from Chinese tariffs on U.S. agricultural goods and the expected expansion of U.S. corn plantings in the spring.

Concerns are continuing to grow over U.S. agricultural exports to other key markets, including Europe and Asian nations beyond China.

CBOT May corn CK25 was last down 1 cent to $4.59-1/4 per bushel.

SOYBEANS - Up 1 to 2 cents per bushel

Soybean futures rose on bargain buying after China's announcement of a 34% tariff on U.S. goods pushed soybean prices to their lowest this year in the previous session.

China has not bought U.S. soybeans for months amid Brazil's bumper soybean harvest, which reduced the short-term impact of tariffs on soybean futures.

Brazil's soybean harvest hit 87% of the planted area as of last Thursday, compared to 78% last year.

CBOT May soybeans SK25 were last up 1-3/4 cents to $9.78-3/4 per bushel.

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