You are here

CBOT Trends - Wheat down 4-5 cents, corn down 2-3, soybeans up 2-3

CHICAGO, Sept 24 (Reuters) - Following are U.S. trade expectations for the opening 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 5 cents per bushel

* Wheat heads lower for a fourth straight session on technical selling and ample global supplies. MGEX spring wheat futures underpinned by harvest delays and quality problems in the U.S. and Canadian spring wheat regions.

* The U.S. Department of Agriculture (USDA) late Monday the U.S. spring wheat crop was 87% harvested, up from 76% a week earlier but behind the five-year average of 97%.

* The USDA said the U.S. winter wheat crop was 22% seeded, up from 8% the previous week but behind the five-year average of 24%.

* CBOT December soft red winter wheat last traded down 4-1/4 cents at $4.78-3/4 a bushel. K.C. December hard red winter wheat was last down 2-1/2 cents at $4.04 a bushel and MGEX December spring wheat fell 3/4 cent to $5.36-1/2.

CORN - Down 2 to 3 cents per bushel

* Corn lower on technical selling and improving U.S. crop ratings. Market underpinned by uncertain yield prospects and a slow start to the U.S. harvest.

* The USDA late Monday said the U.S. corn harvest was 7% complete, behind the average trade expectation of 9% and the five-year average of 11%.

* The USDA rated 57% of the corn crop in good to excellent condition, up from 55% last week and above an average of trade expectations.

* The Commodity Weather Group said a frost was possible late next week in the northern Plains and northwest Midwest, posing a "limited threat" to 10 to 15% of corn and soybean crops.

* CBOT December corn last traded down 2-1/4 cents at $3.71 per bushel.

SOYBEANS - Up 2 to 3 cents per bushel

* Soybeans firm on signs of improving U.S.-China trade relations and worries about excessively wet conditions slowing crop maturity in parts of the U.S. Midwest.

* China granted new waivers to several domestic state and private firms exempting them from retaliatory tariffs on soybeans imported from the United States, Bloomberg said, citing unidentified sources familiar with the matter.

* Treasury Secretary Steven Mnuchin said in a television interview that trade talks with Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer were set to resume in two weeks.

* The USDA rated 54% of the U.S. soybean crop as good to excellent, unchanged from the week before and in line with expectations.

* CBOT November soybeans last traded up 3-1/4 cents at $8.95-3/4 per bushel. (Reporting by Julie Ingwersen)

© Copyright Thomson Reuters 2019. Click For Restrictions -

Read more about

Tip of the Day

Farmer-Built Tough Trough

one tough trough My new troughs are made of 36-inch drain pipe cut in half. The one in the barn is installed with 6-inch wood screws, flat washers, and... read more

Talk in Marketing