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CBOT Trends-Wheat down 7-8 cents, corn steady-down 1, soybeans steady-down 1

ReutersJul 29, 2025 1:18 PM

- The following are U.S. expectations for the resumption of grain and soy complex trading on Tuesday.

WHEAT - Down 7 to 8 cents per bushel

  • Wheat futures fell as harvests progressed and the dollar gained strength.

  • The U.S. dollar rose as the Euro weakened in the wake of a trade deal between the U.S. and the European Union that markets are increasingly seeing as favoring the former.

  • A stronger dollar tends to make U.S. exports more expensive and less competitive to holders of other currencies.

  • The U.S. Department of Agriculture rated 49% of the nation's spring wheat crop as good or excellent in a weekly report released Monday, and said harvesting was 1% complete. Analysts expected the rating to stay unchanged from last week at 52%.

  • The USDA said winter wheat harvesting was 80% complete, compared to 73% a week ago and analysts' estimates of 82%.

  • CBOT September soft red winter wheat WU25 was last down 7 cents at $5.31-1/2 per bushel. K.C. September hard red winter wheat KWU25 was last down 5 cents at $5.21 per bushel. Minneapolis September wheat MWEU25 was last down 1-1/2 cents at $5.80 a bushel.

CORN - Steady to down 1 cent per bushel

  • Corn futures edged down, pressured by large U.S. harvests amid benign weather across the Midwest, but supported by an unexpected slip in U.S. crop ratings.

  • The condition of the U.S. corn crop worsened slightly over the past week, the USDA said on Monday, though the decline was not expected to significantly diminish the harvest.

  • The USDA rated 73% of the corn crop as being in good or excellent condition as of Sunday, compared to 74% a week earlier and in line with analysts' estimates in a Reuters poll.

  • Hot temperatures in the U.S. Midwest are expected to ease from the middle of the week, with cooler temperatures overnight aiding crop development, according to Commodity Weather Group.

  • CBOT December corn CU25 was last down 1/2 cent at $4.13-1/2 per bushel.

SOYBEANS - Steady to down 1 cent per bushel

  • Soybean futures ticked down on abundant global supplies and beneficial weather in growing regions of the U.S. Midwest.

  • The USDA rated 70% of the nation's soybean crop as being in good or excellent condition, up from 68% last week. Analysts expected 67%, which would have matched last year's rating.

  • After a burst of heat in the Midwest, cooler temperatures should benefit the U.S. soy crop starting midweek, according to Commodity Weather Group.

  • CBOT November soybeans SX25 were last down 1/2 cent at $10.11 per bushel.

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