GRAINS-Dollar-driven rally in corn, wheat and soybean pauses

CANBERRA, April 14 (Reuters) - Chicago wheat, corn and soybean futures gave back some ground on Monday after a fast-weakening dollar triggered rapid gains last week by making U.S. farm goods more competitive on the global market.

U.S. President Donald Trump's tariff policies have hammered the dollar index .DXY, which fell on Friday to its lowest since April 2022, and hovered near those lows on Monday. FRX/

The U.S. Department of Agriculture (USDA) also last week tightened its outlooks for U.S. supply of corn and to a lesser extent soybeans, helping support prices.

Speculators were net buyers of all three crops.

Despite China's soybean imports tumbling in March to their lowest for the month since 2008, traders hope negotiations can prevent the closing off of U.S. export markets following Trump's decision last week to pause many of his tariff increases.

Thailand on Friday said it would cut tariffs on imports of U.S. corn but that volumes still needed to be finalised. The USDA raised its U.S. corn export forecast last week.

"I think prices will be range-bound this week," said Rabobank analyst Vitor Pistoia. "But everyone will be looking to the White House."

The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was down 0.7% at $4.87 a bushel at 0557 GMT after rising 6.5% last week, its biggest weekly gain since May 2023.

CBOT soybeans Sv1 fell 0.4% to $10.39 a bushel having climbed 6.7% last week, the most for any week since July 2022.

Wheat Wv1 slipped 1.1% to $5.49-1/2 a bushel following a 5.1% weekly gain, the largest since November 2024.

Ahead of a National Oilseed Processors Association report due on Tuesday, analysts said the U.S. soybean crush likely increased in March to a record high level for the month.

Heavy rains in Argentina are raising fears of soybean losses and delayed sales, but drier weather on the horizon should bring relief, industry experts said.