CBOT Trends-Wheat down 1-2 cents, corn up 1-2 cents, soy up 3-5 cents

- The 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 Tuesday.

WHEAT - Down 1 to 2 cents per bushel

  • CBOT wheat Wv1 set a one-week low.

  • The U.S. winter wheat harvest was 40% complete, the U.S. Department of Agriculture said in a weekly report on Monday. That exceeded analysts' average estimate of 36% and the 5-year average of 24%.

  • USDA said 54% of the nation's spring wheat crop was in good or excellent condition, down one percentage point from a week earlier.

  • Consultancy Sovecon lowered its forecast for Russia's 2026/27 wheat crop.

  • CBOT July soft red winter wheat WN26 was last down 1-1/2 cents at $5.96 per bushel. K.C. July hard red winter wheat KWN26 was last down 3 cents at $6.30-1/2 per bushel, and Minneapolis July spring wheat MWEN26 was 2-3/4 cents lower at $6.10 per bushel.

CORN - Up 1 to 2 cents per bushel

  • Corn futures Cv1 rebounded after falling for the previous two sessions.

  • USDA left its good-to-excellent ratings of U.S. corn and soy crops unchanged from last week.

  • Exporters sold 100,000 metric tons of U.S. corn to Mexico, including 30,000 tons for 2025/26 delivery and 70,000 tons for 2026/27 delivery, USDA said in its daily reporting system.

  • Traders watched U.S.-Iran negotiations after Washington suggested frozen Iranian funds could be used to buy U.S. crops, an idea played down by Tehran.

  • CBOT July corn CN26 was last up 1 cent at $4.12-1/2 per bushel.

SOYBEANS - Up 3 to 5 cents per bushel

  • Soybean futures Sv1 rose in a turnaround from recent losses.

  • A steadier trend in crude oil prices encouraged a pause in grain and soy selling, after recent liquidation by investment funds, traders said.

  • Expectations for large U.S. soy and corn harvests hung over the markets following largely favorable weather, traders said.

  • CBOT July soybeans SN26 were last up 3-1/4 cents at $11.19 per bushel.