CBOT Trends-Wheat up 2-3 cents, corn steady-up 1, soybeans down 3-4
CHICAGO, May 28 (Reuters) - 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 Wednesday.
WHEAT - Up 2 to 3 cents per bushel
CBOT wheat futures rose after U.S. crop ratings came in below market expectations, though prices remained within sight of a five-year low amid broadly favorable harvest prospects in the northern hemisphere and sluggish international demand.
The U.S. Department of Agriculture's weekly report showed only 45% of U.S. spring wheat in good to excellent condition, below the lowest in a range of analyst expectations.
For winter wheat, the agency rated 50% of the U.S. crop as good to excellent, down 2 points from a week earlier and beneath the average analyst forecast, though still the highest rating for this time of year since 2020.
CBOT July soft red winter wheat WN25 was last up 3-3/4 cents to $5.32-1/4 per bushel. K.C. July hard red winter wheat KWN25 was last up 5-1/4 cents to $5.29-3/4 per bushel. Minneapolis July spring wheat MWEN25 was last up 9-1/2 cents to $6.05-3/4 a bushel.
CORN - Steady to up 1 cent per bushel
Corn futures were nearly unchanged, though futures drew support from a lower than expected U.S. crop conditions score
Corn futures are under pressure from expectations of a large crop in Brazil, with agribusiness consultancy Datagro this week increasing its forecasts for the country's 2024/2025 crops.
The USDA rated 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll.
CBOT July corn CN25 was unchanged at $4.59-1/2 per bushel.
SOYBEANS - Down 3 to 4 cents per bushel
Soybeans ticked down on sluggish demand and a large Brazilian soybean harvest.
Soybean planting was 76% complete, behind the average estimate in the Reuters poll of 78%. The USDA's figure was up from 66% a week ago and well ahead of the five-year average of 68%. The government expects to release soybean condition ratings starting with next week's report.
CBOT July soybeans SN25 were down 4 cents to $10.58-1/2 per bushel.
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