CBOT Trends-Wheat down 4-6 cents, corn down 1-3 cents, soybeans up 2-4 cents
CHICAGO, March 25 (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 - Down 4 to 6 cents per bushel
Wheat futures fell on weakness in crude oil following U.S. proposals to end the Middle East war. GRA/
Oil prices sank about 5% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire and despite Israel and Iran exchanging airstrikes. O/R
Grains and oilseed prices have broadly tracked fluctuations in crude oil during the U.S.-Israeli war on Iran. underscoring the role of corn and soyoil in biofuels and investors' interest in these crops as an inflation hedge.
Jordan's state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins, European traders said on Wednesday.
CBOT May soft red winter wheat WK26 was last down 4 cents at $5.86 per bushel. K.C. May hard red winter wheat KWK26 was last down 2 cents at $6.02 a bushel and Minneapolis May spring wheat MWEK26 was trading 3-3/4 cents lower at $6.27-1/2 per bushel.
CORN - Down 1 to 3 cents per bushel
Corn futures eased, tracking crude prices. GRA/
Taiwan's MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said.
CBOT May corn CK26 was last down 2-1/4 cents at $4.60-1/4 per bushel.
SOYBEANS - Up 2 to 4 cents per bushel
Soybean futures rose after falling in the previous session, shrugging off a fall in crude oil prices that the oilseed had been tracking.
Weakness in soyoil futures were offset by technical strength in soymeal. GRA/
Grain traders are awaiting direction from revised U.S. biofuel blending targets due by the end of the month, which could expand demand for feedstocks like soyoil. GRA/
CBOT May soybeans SK26 were last up 3-1/2 cents at $11.58-1/2 per bushel.
