CBOT Trends-Wheat down 3-4 cents, corn down 2-4, soybeans down 4-6
CHICAGO, May 26 (Reuters) - 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 3 to 4 cents per bushel
CBOT wheat futures fell for a fourth consecutive session on Tuesday as rainfall eased drought conditions in the U.S. wheat belt and traders positioned for fresh supplies from Northern Hemisphere harvests. GRA/
Ukraine could harvest 22 to 23 million metric tons of wheat in 2026, in line with its 2025 production of 23 million tons, major farmers' union UAC's trade department said.
A group of South Korean flour mills has issued an international tender to purchase an estimated 100,000 metric tons of milling wheat to be sourced from the United States and Canada, according to European traders.
CBOT July soft red winter wheat WN26 was last down 4 cents at $6.42-1/4 a bushel. K.C. July hard red winter wheat KWN26 was last down 1 cent at $6.81 a bushel, while Minneapolis July spring wheat MWEN26 was 1 cent higher at $6.90-1/2 a bushel.
CORN - Down 2 to 4 cents per bushel
Corn futures slipped as cooler, drier weather was predicted in the U.S. Midwest.
Crude oil prices, which tend to impact corn futures because of the grain's use for ethanol, rose as hopes of an imminent deal to reopen the Strait of Hormuz trade route and end the Iran war were dented by fresh U.S. attacks on Iranian targets.
Drier, mild weather is expected in the U.S. Midwest in the coming 10 days, according to forecaster Commodity Weather Group, favoring planting.
CBOT July corn CN26 was last down 3-1/4 cents at $4.60 per bushel.
SOYBEANS - Down 4 to 6 cents per bushel
Soybean futures ticked down as mild, dry weather favored planting over the next 10 days.
Brent crude oil prices, which impact soy futures because of the oilseed's use in biofuels, rose on Tuesday after the U.S. military carried out strikes in Iran, adding to uncertainty on whether a deal will be imminently reached to end the war and open up shipping flows through the Strait of Hormuz.
Indian traders have canceled 25,000 metric tons of soymeal export contracts for the first time since 2021 and booked 80,000 tons of imports from African countries after soaring domestic prices reversed trade flows, trade sources said.
CBOT July soybeans SN26 were last 5-3/4 cents lower at $11.90-3/4 per bushel.
