CBOT Trends-Wheat up 12-14 cents, corn up 1-3 cents, soy flat-up 1 cent

CHICAGO, July 10 (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 Friday.

Traders adjusted positions before the U.S. Department of Agriculture was scheduled to release monthly crop data at 12 p.m. EDT (1600 GMT).

WHEAT - Up 12 to 14 cents per bushel

  • CBOT wheat Wv1 touched a six-week high overnight.

  • USDA was expected to lower its estimate of 2026-27 U.S. wheat ending stocks to 714 million bushels from 744 million in June, according to a Reuters poll of analysts.

  • Grain trade association Coceral cut its forecast of soft wheat production in the European Union and Britain by 2% due to heat.

  • Traders kept an eye on signs of a potential escalation in the Russia-Ukraine war. Both countries are major grain exporters.

  • CBOT September soft red winter wheat WU26 was last up 13-1/4 cents at $6.33 per bushel. K.C. September hard red winter wheat KWU26 was last up 15-3/4 cents at $6.70 per bushel, and Minneapolis September spring wheat MWEU26 was last up 9-1/2 cents at $6.48-1/2 per bushel.

CORN - Up 1 to 3 cents

  • USDA was expected to reduce its estimate of 2026-27 U.S. corn ending stocks to 1.873 billion bushels from 1.960 billion last month, according to analysts surveyed by Reuters.

  • Forecasts have pointed to showers and more moderate heat in the U.S. grain belt after a hot period worried investors.

  • In Europe, maize emerged as the cereal crop most exposed to extreme weather.

  • The condition of French maize last week reached a 15-year low, while Coceral slashed its estimate for corn output in the EU and Britain by about 8%.

  • CBOT December corn CZ26 was last up 1-3/4 cents at $4.53-3/4 per bushel.

SOYBEANS - Flat to up 1 cent

  • An uptick in demand for U.S. soybeans continued, as USDA said in a daily reporting system that exporters sold 264,000 metric tons of U.S. soybeans to top importer China.

  • USDA also confirmed sales of U.S. soybeans to China and unknown destinations in its daily reporting system on Wednesday and Thursday.

  • USDA was expected to estimate 2026-27 U.S. soybean ending stocks at 330 million bushels, compared to its June estimate of 310 million, according to analysts surveyed by Reuters.

  • CBOT November soybeans SX26 were last up 1/4 cent at $11.81-3/4 per bushel.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.