tradingkey.logo

CBOT Trends-Wheat steady-up 1 cent, corn mixed, soybeans steady-down 2 cents

ReutersDec 27, 2024 2:15 PM

- 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. CST (1430 GMT) on Friday.

WHEAT - Steady to up 1 cent per bushel

* Wheat traded flat to higher as the U.S. dollar .DXY remained strong, but the U.S. Department of Agriculture reported larger than expected weekly export sales.

* The U.S. dollar headed towards an almost 7% annual gain against other major currencies on Friday as traders anticipated robust U.S. growth would make the Federal Reserve cautious on rate-cutting well into 2025.

* The USDA reported net weekly wheat export sales of 612,400 metric tons, above trade expectations for 250,000-600,000 metric tons, according to a Reuters poll.

* CBOT March soft red winter wheat WH25 was last up 1/2 cent at $5.41-1/2 a bushel. K.C. March hard red winter wheat KWH25 was last down 1 cent at $5.50-1/2 a bushel and Minneapolis March spring wheat MWEH25 was last down 3/4 cent at $5.93-1/4 a bushel.

CORN - Down 2 cents to up 1 cent per bushel

* Corn futures were mixed as the USDA reported higher than expected weekly net export sales.

* Showers in some parts of Argentina could benefit its corn crop over the coming weeks, but dry conditions persist, according to Commodity Weather Group.

* The USDA reported net weekly export sales of 1,711,300 metric tons, above trade expectations for 1,000,000-1,600,000 metric tons.

* CBOT March corn CH25 last traded flat at $4.53-3/4 a bushel.

SOYBEANS - Steady to down 2 cents per bushel

* Soybeans Sv1 were flat to lower after recovering from four-year lows the previous week.

* Regular showers will continue in top-exporter Brazil, with only small patches of excess rain, according to Commodity Weather Group.

* The USDA reported net weekly export sales of 978,400 metric tons of soybeans, below trade expectations for 1,000,000-1,800,000 metric tons.

* CBOT March soybeans SH25 were last down 1-1/2 cents at $9.95-3/4 per bushel.

(Reporting by Renee Hickman, editing by P.J. Huffstutter)

((renee.hickman@thomsonreuters.com))

Disclaimer: For information purposes only. Past performance is not indicative of future results.