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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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