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CBOT Trends-Wheat up 7-8 cents, corn up 5-6, soy up 15-17 cents

ReutersJan 6, 2025 2:13 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 Monday.

WHEAT - Up 7 to 8 cents per bushel

* Wheat futures gained on support from a slide in the U.S. dollar, which makes U.S. grain cheaper for overseas buyers.

* The dollar slumped 1% on Monday after a report said President-elect Donald Trump was mulling tariffs that would only be applied to critical imports, potentially a relief for countries that were expecting broader levies.

* Convoys of French farmers set off on Sunday to try to block roads around Paris in protest against what they say is unfair competition from overseas and excessive regulation. France is a top European Union wheat exporter.

* CBOT March soft red winter wheat WH25 was last up 8-1/4 cents to $5.37-1/2 a bushel. K.C. March hard red winter wheat KWH25 was last up 7-1/2 cents to $5.46-1/2 a bushel and Minneapolis March spring wheat MWEH25 was last up 9 cents to $5.86-3/4 a bushel.

CORN - Up 5 to 6 cents per bushel

* Corn futures rose as hot, dry weather damaged Argentina's corn crop, with a weaker U.S. dollar also lifting prices.

* However, some weather models are predicting an increased chance of rain in parts of Argentina within the next two weeks, an analyst note said.

* Traders are looking ahead to the world crop outlook from the U.S. Department of Agriculture on Friday, which will include updated estimates of the U.S. harvest and new projections of upcoming South American crops.

* CBOT March corn CH25 was last up 5-3/4 cents to $4.56-1/2 a bushel.

SOYBEANS - Up 15 to 17 cents per bushel

* Soybean futures headed higher on support from a hot summer damaging Argentina's soy crop.

* However, expectations of a record soybean crop from No. 1 grower Brazil and slow Chinese demand were capping gains in soybean prices, according to analysts.

* CBOT March soybeans SH25 were last up 16-1/2 cents to $9.97-1/2 per bushel.

(Reporting by Heather Schlitz; Editing by Lisa Shumaker)

((Heather.Schlitz@thomsonreuters.com;))

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