CBOT Trends-Wheat down 3-5 cents, corn mixed, soybeans up 1-4 cents
CHICAGO, March 26 (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 Thursday:
WHEAT - Down 3 to 5 cents per bushel
Wheat futures fell on technical trading amid conflicting signals over the Iran war.
U.S. President Donald Trump warned Iran on Thursday to "get serious" about a deal to end nearly four weeks of fighting, after its foreign minister said Tehran was reviewing the U.S. proposal but there were no talks on winding down the war.
The U.S. Department of Agriculture reported net weekly U.S. wheat export sales - for the current and next marketing years - at 602,995 metric tons for the week ended March 19, slightly above analysts' estimates.
The drought in the U.S. Plains and broadly across wheat country is worsening and input cost escalation, at the hands of the war, is impacting global planting intentions, traders said.
CBOT May soft red winter wheat WK26 was last down 2-1/2 cents at $5.95-1/4 per bushel. K.C. May hard red winter wheat KWK26 was last up 1/4 cent at $6.18 a bushel and Minneapolis May spring wheat MWEK26 was trading 3-1/4 cents lower at $6.37-1/2 per bushel.
CORN - Up 1/4 cent to down 1 cent per bushel
Nearby corn futures Cv1 contracts eased, shrugging off a rebound in oil prices as prospects for a prolonged conflict in the Middle East stoked concerns of further supply disruptions. 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.
USDA reported net weekly U.S. corn export sales - for the current and next marketing years - at 1,352,827 metric tons for the week ended on March 19, in line with analysts' estimates.
Ethanol production for the week ended March 20 was 1.12 million barrels per day, up 23,000 barrels per day from the previous week, according to the Energy Information Administration. Weekly ethanol stocks were 27.12 million barrels, up 763,000 barrels compared to the previous week and the highest stocks level reported by EIA since last March.
CBOT May corn CK26 was last down 1/2 cent at $4.66-3/4 per bushel.
SOYBEANS - Up 1 to 4 cents per bushel
Soybeans were higher on weekly export sales news and strength in the oil market.
USDA reported net weekly U.S. soybean export sales - for the current and next marketing years - at 695,907 metric tons for the week ended March 19, above the range of analyst estimates.
U.S. President Donald Trump's plan to meet Chinese President Xi Jinping in May offered some support, traders said, amid hopes of stronger Chinese demand for U.S. supplies.
Initially slated to travel next week, Trump will now visit Beijing on May 14-15, he said on Truth Social on Wednesday, adding that he would host Xi for a reciprocal visit in Washington later this year.
Brazilian farmers are expected to harvest 184.7 million metric tons of soybeans in the 2025/2026 season, agribusiness consultancy Agroconsult said on Wednesday, raising its early-March estimate by 0.9% after completing its Rally da Safra field survey.
CBOT May soybeans SK26 were last up 3-3/4 cents at $11.75-1/2 per bushel.
