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CBOT Trends-Wheat up 10-12 cents, corn up 2-3, soy up 2-4

ReutersApr 11, 2025 1:10 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. CDT (1330 GMT) on Friday.

WHEAT - Up 10 to 12 cents per bushel

* CBOT wheat futures rebounded from a day-earlier fall, with the falling dollar encouraging the market to shake off an increased U.S. Department of Agriculture forecast of U.S. wheat stocks.

* Wheat also found support from weather risks in the U.S. Plains, where roughly 1/3 of the winter wheat crop is too dry, an analyst note said.

* Fresh losses for the dollar index =USD, which hit a three-year low on Friday, also underpinned U.S. grains, making them more attractive to overseas buyers.

* More than 93% of winter grain crops in Russia are in normal condition, the TASS state news agency quoted Deputy Prime Minister Dmitry Patrushev as saying on Friday.

* CBOT May soft red winter wheat WK25 was last up 12 cents to $5.50 per bushel. K.C. May hard red winter wheat KWK25 was last up 10 cents to $5.68 a bushel and Minneapolis May spring wheat MWEK25 was last up 7 cents to $6.09 a bushel.

CORN - Up 2 to 3 cents per bushel

* Corn futures rose further to hit another six-week high after the USDA said U.S. corn inventories will be tighter than previously expected and projected larger exports in its monthly supply and demand report on Thursday.

* The corn market has shaken off wider investor fears about economic fallout from U.S. President Donald Trump's tariff offensive.

* U.S. corn has also avoided an immediate tariff from the European Union, where Spain is a large buyer, after the bloc decided to postpone for 90 days countermeasures due to take effect from April 15.

* Rainy weather in the U.S. has slowed seeding progress for the corn crop.

* CBOT May corn CK25 was last up 2-1/2 cents to $4.85-1/2 per bushel.

SOYBEANS - Up 2 to 4 cents per bushel

* Soybean futures rose on a consolidating crude oil market while remaining unswayed by the latest hike in China's retaliatory tariffs against U.S. goods.

* The soybean market found support in a slight reduction to the USDA's forecast of U.S. stocks.

* U.S. exporters sold 121,000 metric tons of soybeans to unknown destinations, of which 55,000 tons is for 2024/25 delivery and 66,000 tons for 2025/26 delivery.

* CBOT May soybeans SK25 were last up 2-1/2 cents to $10.31-1/2 per bushel.

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