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CBOT Trends-Wheat up 6-11 cents, corn up 2-3, soy up 2-4

ReutersMay 2, 2025 1:11 PM

- The 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 - Up 6 to 11 cents per bushel

Wheat futures ticked up on increased optimism over the U.S.-China trade relationship and a weakening dollar, but are set for a second weekly decline on improved weather in the U.S. Plains.

Washington has approached China seeking talks over its 145% tariffs, a social media account affiliated with Chinese state media said,.

A fall in the dollar against major currencies was also supporting prices, making U.S. grains more competitive on world markets.

The condition of French winter grain crops was stable in the week to April 28 and still much better than a year ago when crops were damaged by rain, FranceAgriMer said on Friday.

CBOT July soft red winter wheat WN25 was last up 11-1/2 cents to $5.42-1/2 per bushel. K.C. July hard red winter wheat KWN25 was last up 11-1/2 cents to $5.39 a bushel, and Minneapolis July spring wheat MWEN25 was last up 10 cents to $6.05-1/2 a bushel.

CORN - Up 2 to 3 cents per bushel

Corn futures were higher on technical trading and mild weather concerns in the U.S. Midwest, though expectations of a large corn crop weighed on prices.

Rain in parts of the U.S. corn belt might delay seeding, a note from Commodity Weather Group said.

CBOT July corn CN25 was up 2-1/4 cents to $4.74-1/2 per bushel.

SOYBEANS - Up 2 to 4 cents per bushel

Soybeans gained on Friday, with bargain-buying and the potential for U.S.-China trade talks supporting prices, though the market was on track to end the week lower amid concerns arising from the U.S.-China trade war.

Soybean prices weakened recently in Brazil, the world's biggest exporter of the oilseed, increasing competition for U.S. supplies on the global market, traders said.

CBOT July soybeans SN25 were last up 3-3/4 cents at $10.54 per bushel.

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