CBOT Trends-Wheat up 4-7 cents, corn up 1-3, soybeans mixed

CHICAGO, June 9 (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 4 to 7 cents per bushel

  • CBOT wheat futures firmed as lower-than-expected U.S. winter wheat crop ratings supported a technical and short-covering bounce from multi-month lows.

  • The U.S. Department of Agriculture rated just 25% of the U.S. winter wheat crop in good-to-excellent condition as of Sunday, down 1 point from a week earlier and 2 points below the average analyst estimate. The agency said 11% of the crop has been harvested, in line with expectations.

  • CBOT July soft red winter wheat WN26 was last 7 cents higher at $5.90-1/4 a bushel. K.C. July hard red winter wheat KWN26 was last up 6 cents at $6.35-3/4 a bushel, while Minneapolis July spring wheat MWEN26 was 3 cents higher at $6.22-1/2 a bushel.

CORN - Up 1 to 3 cents per bushel

  • Corn futures were higher on technical buying and short covering after reaching the lowest point since October in the prior session. Gains limited by favorable crop weather in the Midwest and lower crude oil prices.

  • The USDA rated 67% of the U.S. corn crop in good-to-excellent condition as of Sunday, unchanged from a week earlier but below expectations for a 2-point improvement. The agency said 97% of the crop was planted.

  • Export demand has improved with the recent price decline. The USDA confirmed private sales of 120,000 metric tons of U.S. corn for shipment to undisclosed buyers in the 2025/26 marketing year.

  • CBOT July corn CN26 was last up 2-3/4 cents at $4.21-1/2 per bushel.

SOYBEANS - Up 1 cent to down 1 cent per bushel

  • Soybean futures narrowly mixed, stabilizing after a drop to four-month lows. Favorable U.S. crop weather and a lack of large U.S. soybean purchases by China since the U.S.-China summit in mid-May anchored prices.

  • The USDA rated 65% of the U.S. soybean crop in good-to-excellent condition as of Sunday, down 1 point from a week earlier and below expectations for a 2-point improvement. The agency said 92% of the crop was planted.

  • China's soybean imports fell 15.3% in May from a year earlier, but the volume was still the third highest on record for the month, data from the General Administration of Customs showed on Tuesday.

  • CBOT July soybeans SN26 were last down 1/2 cent at $11.15-1/4 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.