CBOT Trends-Wheat down 2-4 cents, corn and soybeans steady-down 2

CHICAGO, May 21 (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 Thursday:

WHEAT - Down 2 to 4 cents per bushel

  • CBOT wheat futures were lower on profit-taking following recent gains and as traders began squaring positions ahead of the U.S. Memorial Day holiday weekend. Worries about a drought-reduced U.S. Plains crop limited losses.

  • The U.S. Department of Agriculture reported net U.S. wheat export sales in the week ending May 14 at 166,342 metric tons for shipment in the 2025/26 marketing year and 130,488 tons for 2026/27, in line with trade estimates.

  • CBOT July soft red winter wheat WN26 was last down 4 cents at $6.56-1/2 a bushel. K.C. July hard red winter wheat KWN26 was last down 4-1/4 cents at $6.94-1/2 a bushel, while Minneapolis July spring wheat MWEN26 was down 3-3/4 cents at $6.90-3/4 a bushel.

CORN - Steady to down 2 cents per bushel

  • Corn futures were steady to lower on mostly favorable U.S. Midwest crop weather ahead of the long holiday weekend, and as the market awaits more details about purchasing commitments made by China at last week's summit in Beijing. Strong export sales limited declines.

  • China and the U.S. have agreed to cut tariffs on agricultural trade as part of a broader trade deal, the Ministry of Commerce said on Wednesday. But Beijing has not confirmed key details about purchase commitments.

  • The USDA said net old-crop U.S. corn export sales totaled 2,125,316 metric tons in the week ended May 14, above trade expectations. New-crop sales of 281,430 tons were at the high end of a range of trade estimates.

  • CBOT July corn CN26 was last down 3/4 cent at $4.65 per bushel.

SOYBEANS - Steady to down 2 cents per bushel

  • Soybean futures were flat to lower on generally favorable U.S. Midwest crop weather and as traders await further details about U.S. farm goods purchasing commitments made by China at a summit last week.

  • Net U.S. soybean export sales last week rose to 351,423 metric tons for shipment in the 2025/26 marketing year and 172,729 tons for 2026/27, in line with trade expectations.

  • CBOT July soybeans SN26 were last unchanged at $11.99-3/4 per bushel.


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