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GRAINS-Wheat eases as dollar and exports weigh

ReutersMar 20, 2025 1:25 PM

PARIS/SINGAPORE, March 20 (Reuters) - Chicago wheat futures eased for a third consecutive session on Thursday as strength in the dollar added to doubts over U.S. export prospects, traders said.

Soybeans edged down for a fourth day, pressured by the arrival of a bumper Brazilian crop, while corn extended gains to a one-week high as the opening of a large Turkish import quota boosted demand prospects.

Traders were continuing to monitor tariff tussles between the United States and trading partners, discussions to end the war between Ukraine and Russia and U.S. farmers' plans for spring planting.

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.9% at $5.58-1/4 a bushel at the end of the overnight trading session.

CBOT soybeans Sv1 were down 0.3% at $10.05-1/4 a bushel and CBOT corn Cv1 up 0.8% at 4.65-1/2 a bushel.

The dollar index =USD rose further after the U.S. Federal Reserve indicated it was in no rush to cut rates further this year due to uncertainties around U.S. tariffs. FRX/

A stronger dollar makes U.S. commodities dearer for buyers holding other currencies.

A firmer dollar could reduce the scope for U.S. wheat to benefit from fading competition from Russia, whose exports have dropped sharply in recent weeks.

At the same time, talks between Washington and Moscow aimed at ending the conflict in Ukraine, including through discussions over Black Sea shipping, have raised the possibility of easier conditions for Russian and Ukrainian exports.

U.S. exporters are also concerned proposals to impose high fees on Chinese-built vessels calling at U.S. ports will disrupt U.S. grain shipments.

U.S. Department of Agriculture data showed negative weekly wheat export sales for the current season, suggesting possible cancellations, as well as a larger-than-expected volume for the upcoming 2025/26 season.

Prices at 1300 GMT





Last

Change

Pct Move

CBOT wheat Wv1

558.25

-5.25

-0.93

CBOT corn Cv1

465.50

3.50

0.76

CBOT soy Sv1

1005.25

-3.00

-0.30

Paris wheat BL2K5

226.00

-1.25

-0.55

Paris maize EMAc1

216.25

-0.50

-0.23

Paris rapeseed COMc1

489.00

2.75

0.57

WTI crude oil CLc1

67.20

0.04

0.06

Euro/dlr EUR=

1.08

-0.01

-0.63

Most active contracts - Wheat, corn and soy US

cents/bushel, Paris futures in euros per metric ton

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