CBOT Trends-Wheat up 1-2 cents, corn steady-down 1, soy down 3-4

CHICAGO, June 30 (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 - Up 1 to 2 cents per bushel

  • Wheat futures were little changed on Tuesday, as traders adjusted positions ahead of U.S. planting and stocks estimates later in the day.

  • Concern over a drought-diminished U.S. wheat crop has been tempered by a brisk harvest pace and expectations for bumper production in the Black Sea export region that includes Russia.

  • U.S. exporters sold 100,000 metric tons of hard red spring wheat to Nigeria for 2026/2027 delivery, the U.S. Department of Agriculture reported on Tuesday.

  • CBOT September soft red winter wheat WU26 was last up 2 cents at $5.81-3/4 per bushel. K.C. September hard red winter wheat KWU26 was last 2 cents higher at $6.16-3/4 per bushel, while Minneapolis September spring wheat MWEU26 was last up 19-1/4 cents at $5.65 per bushel.

CORN - Steady to down 1 cent per bushel

  • Corn chopped up and down as trading slowed ahead of the USDA's planting and stocks reports.

  • Analysts, on average, expect the agency to lower its corn acreage estimate.

  • Ahead of Tuesday's acreage update, analysts on average projected corn seedings at 95 million acres — below USDA's March forecast, but still the second-most in a dozen years.

  • A favourable start to the U.S. Midwest growing season, strength in the dollar and falling oil prices following de-escalation in the Middle East war have weighed on corn and soybean prices.

  • Traders are monitoring hot weather across much of the U.S. Midwest this week, but showers and easing heat forecast in the coming days are expected to limit potential crop stress.

  • CBOT July corn CN26 was last up 2 cents at $4.04 per bushel.

SOYBEANS - Down 3 to 4 cents per bushel

  • Soybeans turned lower ahead of the report, where the USDA is expected to raise its soybean planting estimates.

  • For soybeans, analysts on average estimated plantings at 85.4 million acres, up from the USDA's March forecast of 84.7 million and up from 81.2 million acres in 2025, a six-year low.

  • CBOT November soybeans SX26 were last 3-1/2 cents lower to $11.35-1/2 per bushel.


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