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CBOT Trends-Wheat down 4-6 cents, corn steady-down 1 cent, soy up 1-4 cents

ReutersJun 10, 2025 1:06 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 Tuesday:

WHEAT - Down 4 to 6 cents per bushel

  • CBOT wheat fell on improved U.S. crop condition ratings and an upward revision to Russian crop forecasts.

  • The U.S. Department of Agriculture rated the nation's spring wheat in 53% good to excellent condition, above the previous week's rating and analyst expectations.

  • The USDA reported 4% of the winter wheat crop has been harvested, below the average guess of 8% harvested.

  • Russia's Sovecon agriculture consultancy said it had increased its 2025 Russian wheat crop forecast by 1.8 million tons to 82.8 million tons.

  • CBOT July soft red winter wheat WN25 was last down 4-1/2 cents at $5.37-1/2 per bushel. K.C. July hard red winter wheat KWN25 fell 3-3/4 cents to $5.33-3/4 per bushel, and Minneapolis July spring wheat MWEN25 dropped 4-3/4 cents to $6.17-3/4 per bushel.

CORN - Steady to down 1 cent

  • CBOT corn fell down to a new 2025 low as the USDA rated the U.S. crop in better-than-expected condition.

  • A mild, showery pattern is expected to aid corn crop development in the U.S. Midwest this week, according to Commodity Weather Group.

  • The USDA's weekly crop progress report said 71% of the country's corn crop was in good to excellent condition as of Sunday, up from 69% the week prior and slightly above the average estimate from a Reuters survey of analysts.

  • Leading South Korean animal feed maker Nonghyup Feed Inc bought an estimated 204,000 metric tons of animal feed corn in an international tender on Tuesday, European traders said.

  • Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 120,000 metric tons of animal feed corn, 120,000 tons of feed barley and 120,000 tons of soymeal, European traders said on Tuesday.

  • CBOT July corn CN25 was last down 1/4 cent at $4.33-1/4 per bushel.

SOYBEANS - Up 1 to 4 cents

  • CBOT soybeans Sv1 firmed as ongoing trade talks between China, the world's No. 1 importer of the oilseed, and the United States made investors more optimistic about a resolution of the countries' tariff fight.

  • U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.

  • Mild weather with showers is expected to aid the development of the soybean crop in the U.S. Midwest.

  • CBOT July soybeans SN25 were last up 3-3/4 cents at $10.59-3/4 per bushel.

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