
By Gus Trompiz and Naveen Thukral
PARIS/SINGAPORE, April 22 (Reuters) - Chicago soybean futures edged up on Tuesday while corn and wheat inched lower as broader financial markets consolidated following a day-earlier slide and the dollar held near a three-year low.
Grain traders were also assessing mixed indications on U.S. crops, with rain in the week ahead set to bring relief for parched wheat belts but slow corn and soy planting.
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.2% at $5.51-1/4 a bushel at 1122 GMT.
CBOT corn Cv1 ticked down 0.3% to $4.88-3/4 a bushel, while soybeans Sv1 rose 0.6% to $10.47-1/4 a bushel.
Prices of all three crops fell on Monday as investor jitters over U.S. President Donald Trump's renewed criticism of U.S. Federal Reserve Chair Jerome Powell outweighed support from a falling dollar that makes U.S. grain cheaper for export.
Oil prices regained ground on Tuesday while the dollar index =USD edged away from Monday's low. MKTS/GLOB
The dollar "is a bullish tailwind for our U.S. dollar-denominated commodity markets", Peak Trading Research said in a note. "Beyond the weak dollar story, there isn't much substantive newsflow right now."
The dollar's slide and relief over delays to many of Trump's tariffs against trading partners have helped underpin grain markets this month.
Grain traders have also shifted their focus to the spring growing season in the northern hemisphere.
After Monday's close, the U.S. Department of Agriculture rated 45% of the winter wheat crops to be in good or excellent condition, down from 47% a week earlier and below average market expectations.
But widespread rain forecast in the Central United States in the coming days could help parched wheat plants, while hampering sowing of corn and soybeans after farmers made swifter planting progress than anticipated last week, according to the USDA data.
Prices at 1122 GMT | |||
Last | Change | Pct Move | |
CBOT wheat Wv1 | 551.25 | -1.00 | -0.18 |
CBOT corn Cv1 | 488.75 | -1.25 | -0.26 |
CBOT soy Sv1 | 1047.25 | 5.75 | 0.55 |
Paris wheat BL2K5 | 208.00 | -3.25 | -1.54 |
Paris maize EMAc1 | 202.50 | -2.75 | -1.34 |
Paris rapeseed COMc1 | 533.25 | -1.75 | -0.33 |
WTI crude oil CLc1 | 64.14 | 1.06 | 1.68 |
Euro/dlr EUR= | 1.15 | 0.00 | -0.23 |
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton | |||