CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday.
WHEAT – Down 1 to 3 cents per bushel
Mild end-of-week profit-taking setback expected after most-active contract hit three-week high during overnight trading. Concerns about hard red winter wheat harvest amid drought in US Plains seen keeping declines in check.
CBOT May soft red winter wheat last traded down 2 cents at $4.62-3/4 per bushel. K.C. May hard red winter wheat was last down 3-3/4 cents at $4.94-3/4 and MGEX May spring wheat was last down 2-1/4 cents at $5.87-1/2.
CORN – Down 2 to 4 cents per bushel
Drop in soybeans weighs on corn market. Technical support at 10-day moving average limited declines overnight. Concerns about cold weather leading to planting delays in US Midwest this spring also supportive.
CBOT May corn last traded down 2-3/4 cents at $3.86-3/4 a bushel.
SOYBEANS – Down 10 to 15 cents per bushel.
Market under pressure from threat by US President Donald Trump to slap tariffs on additional $100 billion in Chinese goods and China’s response that it would fight back “at any cost.”
Support for benchmark CBOT May soybean futures noted at 200-day moving average during overnight trading session.
CBOT May soybeans last traded down 12-1/4 cents at $10.19 per bushel.
Source: Brecorder
