Wheat up 2-3 cents, corn down 1-up 1, soy down 1-2
CHICAGO: 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 - Up 2 to 3 cents per bushel
CBOT wheat was buoyed by a slower than average U.S. winter wheat harvest, which reached 10% completion compared with a five-year average of 16%.
Farm office FranceAgriMer has increased its forecast for French soft wheat exports within and outside the European Union in 2024/25, but the EU's biggest grain producer is still on course for its worst wheat export campaign this century after a rain-hit harvest.
One of Russia's largest grain-producing regions, Krasnodar, has declared a state of agricultural emergency in eight drought-hit municipalities.
CBOT July soft red winter wheat was last 3 cents to $5.52 per bushel. K.C. July hard red winter wheat was last up 3-3/4 cents at $5.51-1/2 per bushel, and Minneapolis July spring wheat rose 4-1/2 cents to $6.35-1/2 per bushel.
Jordan gets 6 participants in 120,000 tons wheat tender
Corn - Down 1 cent to up 1 cent per bushel
CBOT corn traded on both sides unchanged, though it received some support from uncertainty over crop weather in the U.S. Midwest.
CBOT July corn fell 1/2 cent to $4.31 per bushel.
Soybeans - Down 1 to 2 cents per bushel
CBOT soybeans eased on Wednesday as traders booked profits after a three-day price rally driven by strength in soyoil and the broader energy market, with continuing tariff uncertainty also pressuring prices.
Support for agricultural commodities such as soybeans and corn has been underpinned by rising energy prices, fueled by escalating tensions between Israel and Iran. Higher crude oil prices improve the competitiveness of soyoil and corn as biofuel feedstocks.
July soybeans were last down 1-3/4 cents to $10.72-1/4 per bushel.
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