CBOT Trends-Wheat up 3-4 cents, corn down 1-2, soy down 3-4
CHICAGO, April 29 (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 Tuesday.
WHEAT - Up 3 to 4 cents per bushel
CBOT wheat futures steadied after a sharp fall on Monday fueled by beneficial rain for U.S. crops.
The rain will add much-needed moisture to the U.S. Plains wheat crop and help boost yields, an analyst note said.
A drought in northern China's wheat belt is expected to worsen with no major rainfall forecast for the next ten days, the Water Resources minister said on Tuesday.
CBOT July soft red winter wheat WN25 was last up 4 cents to $5.35 per bushel. K.C. July hard red winter wheat KWN25 was last up 3 cents to $5.42-3/4 a bushel, and Minneapolis July spring wheat MWEN25 was last down 5-1/4 cents to $6.01 a bushel.
CORN - Down 1 to 2 cents per bushel
Corn futures fell under pressure from advancing U.S. planting and favorable crop weather in South America.
U.S. farmers had planted 24% of the corn crop as of Sunday, the U.S. Department of Agriculture (USDA) said, one percentage point behind analysts' average estimate, but ahead of the five-year average of 22%.
Easing showers in the U.S. Midwest are unlikely to delay seeding, an analyst note said.
U.S. exporters sold 120,000 metric tons of corn to Spain for 2024/25 delivery, the U.S. Department of Agriculture reported.
CBOT July corn CN25 was down 1/4 cent to $4.83 per bushel.
SOYBEANS - Down 3 to 4 cents per bushel
Soybeans ticked lower on strong U.S. seeding progress and good weather in key soy-growing zones.
In a weekly report released after Monday's market close, the USDA said the soybean crop was 18% planted, ahead of both the five-year average of 12% and analysts' average estimate of 17%.
Grain traders were continuing to monitor developments in U.S. tariff policy. A trade stand-off with top soybean importer China continued to cloud U.S. export prospects.
U.S. exporters sold 110,000 metric tons of soybeans to unknown destinations for 2024/25 delivery, the USDA reported.
CBOT July soybeans SN25 were last down 3-1/2 cents to $10.59 per bushel.
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