CBOT Trends-Wheat down 1-2 cents, corn down 6-8, soy down 9-10

CHICAGO, June 29 (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 Monday.

WHEAT - Down 1 to 2 cents per bushel

  • Wheat futures chopped up and down as traders weighed overly hot temperatures in Europe against strong prospects for the Black Sea wheat crop.

  • Swift harvest progress in the United States, along with strong production prospects in the Black Sea export region, were also weighing on the wheat market, taking attention away from a severe heatwave in Western Europe over the past week.

  • Argus raised its forecast for Russian wheat production in 2026/27 to 91.2 million metric tons, the highest since the record 2022/23 harvest, after a virtual crop tour showed stronger winter wheat prospects.

  • CBOT September soft red winter wheat WU26 was last down 1-3/4 cents to $5.88 per bushel. K.C. September hard red winter wheat KWU26 was last 4-3/4 cents higher to $6.24-1/4 per bushel, while Minneapolis September spring wheat MWEU26 was last 6 cents higher to $6.11-1/4 per bushel.

CORN - Down 6 to 8 cents per bushel

  • Corn futures turned lower as traders adjusted positions before closely watched U.S. planting and stocks data while monitoring forecasts of a hot spell in the U.S. Midwest.

  • The U.S. Department of Agriculture's acreage and quarterly grain stocks reports on Tuesday are among the most closely watched publications in grain markets, giving a pointer in particular to U.S. corn and soybean supply prospects for the coming season.

  • Market participants on average expect the USDA to revise down its corn area estimate and increase its soybean planting view, reinforcing a shift from corn to soybeans.

  • CBOT July corn CN26 was last 7-3/4 cents lower at $4.05-1/4 per bushel.

SOYBEANS - Down 9 to 10 cents per bushel

  • Soybeans also turned lower as traders positioned ahead of Tuesday's USDA reports.

  • U.S. exporters sold 136,000 metric tons of soybeans to unknown destinations for 2026/2027 delivery, the USDA reported Monday morning.

  • CBOT November soybeans SX26 were last 10-1/4 cents lower to $11.46 per bushel.


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